Franklin Resources Inc. Sells 3,100 Shares of AutoZone, Inc. (NYSE:AZO)

Franklin Resources Inc. lessened its stake in shares of AutoZone, Inc. (NYSE:AZO – Get Rating) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,382 shares of the company’s stock after selling 3,100 shares during the quarter. Franklin Resources Inc. owned about 0.22% of AutoZone worth $99,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AdvisorNet Financial Inc boosted its position in shares of AutoZone by 83.3% during the 4th quarter. AdvisorNet Financial Inc now owns 11 shares of the company’s stock worth $27,000 after purchasing an additional 5 shares in the last quarter. RFP Financial Group LLC acquired a new stake in shares of AutoZone in the 4th quarter worth about $27,000. Robbins Farley acquired a new stake in shares of AutoZone in the 3rd quarter worth about $26,000. Legacy Bridge LLC acquired a new stake in shares of AutoZone in the 4th quarter worth about $32,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of AutoZone in the 4th quarter worth about $39,000. Institutional investors own 91.12% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE AZO opened at $2,459.75 on Friday. The stock has a market cap of $45.26 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 1.59 and a beta of 0.68. AutoZone, Inc. has a fifty-two week low of $1,959.58 and a fifty-two week high of $2,750.00. The stock has a fifty day moving average of $2,575.67 and a 200-day moving average of $2,499.14.

AutoZone (NYSE:AZO – Get Rating) last announced its quarterly earnings results on Tuesday, May 23rd. The company reported $34.12 earnings per share for the quarter, beating the consensus estimate of $30.84 by $3.28. The company had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.12 billion. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business earned $29.03 earnings per share. On average, sell-side analysts predict that AutoZone, Inc. will post 129.18 EPS for the current year.

Insider Activity

In related news, VP Grant E. Mcgee sold 1,575 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total transaction of $3,955,817.25. Following the completion of the transaction, the vice president now directly owns 246 shares in the company, valued at $617,860.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, VP Grant E. Mcgee sold 1,575 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $2,511.63, for a total transaction of $3,955,817.25. Following the completion of the transaction, the vice president now directly owns 246 shares in the company, valued at $617,860.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Dennis W. Leriche sold 1,420 shares of the business’s stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $2,573.04, for a total value of $3,653,716.80. Following the transaction, the vice president now owns 379 shares of the company’s stock, valued at $975,182.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,960 shares of company stock worth $90,128,092. 2.59% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AZO has been the topic of a number of analyst reports. Bank of America upped their target price on shares of AutoZone from $1,890.00 to $2,120.00 in a report on Wednesday. Barclays assumed coverage on shares of AutoZone in a report on Tuesday, February 7th. They issued an “overweight” rating and a $2,663.00 target price on the stock. Raymond James increased their price objective on shares of AutoZone from $2,650.00 to $2,850.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. StockNews.com assumed coverage on shares of AutoZone in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Citigroup increased their price objective on shares of AutoZone from $2,782.00 to $3,125.00 in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $2,683.56.

About AutoZone

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.