Mackenzie Financial Corp Trims Stock Holdings in AutoZone, Inc. $AZO

Mackenzie Financial Corp decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,718 shares of the company’s stock after selling 4,864 shares during the quarter. Mackenzie Financial Corp’s holdings in AutoZone were worth $93,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in AZO. Avantax Advisory Services Inc. lifted its stake in AutoZone by 8.3% in the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after purchasing an additional 210 shares in the last quarter. Braun Stacey Associates Inc. grew its position in shares of AutoZone by 7.8% during the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after purchasing an additional 613 shares in the last quarter. Summit Global Investments increased its holdings in shares of AutoZone by 132.8% in the third quarter. Summit Global Investments now owns 319 shares of the company’s stock worth $1,369,000 after purchasing an additional 182 shares during the period. Foundations Investment Advisors LLC bought a new position in shares of AutoZone in the third quarter worth $678,000. Finally, Exchange Traded Concepts LLC raised its position in shares of AutoZone by 68.2% in the third quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock worth $6,251,000 after buying an additional 591 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Down 0.3%

NYSE AZO opened at $3,715.03 on Thursday. The stock’s 50-day simple moving average is $3,640.15 and its two-hundred day simple moving average is $3,810.37. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a market capitalization of $61.55 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.91 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $28.29 EPS. On average, equities analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wolfe Research lowered AutoZone from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, December 16th. Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a report on Monday. TD Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Monday, February 23rd. JPMorgan Chase & Co. boosted their price objective on AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $4,318.38.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch acquired 147 shares of the stock in a transaction dated Thursday, December 18th. The stock was purchased at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael A. George acquired 145 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 9,447 shares of company stock valued at $34,179,923 over the last 90 days. Company insiders own 2.60% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.