MML Investors Services LLC Has $1.98 Million Stake in AutoZone, Inc. (NYSE:AZO)

MML Investors Services LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 629 shares of the company’s stock after purchasing an additional 7 shares during the quarter. MML Investors Services LLC’s holdings in AutoZone were worth $1,981,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the 3rd quarter valued at $36,000. Meeder Asset Management Inc. boosted its position in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after purchasing an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in AutoZone during the third quarter valued at $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone in the third quarter valued at about $47,000. Finally, Ashton Thomas Securities LLC acquired a new position in AutoZone in the 3rd quarter worth about $66,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

NYSE:AZO opened at $3,353.67 on Tuesday. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,416.71. The company has a fifty day moving average price of $3,161.08 and a 200 day moving average price of $3,073.34. The stock has a market cap of $56.69 billion, a P/E ratio of 22.41, a PEG ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company posted $32.55 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that AutoZone, Inc. will post 154.29 EPS for the current year.

Insider Activity

In other news, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. The trade was a 48.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 1,580 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AZO shares. Morgan Stanley boosted their price target on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Citigroup boosted their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Guggenheim raised their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. UBS Group upped their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Roth Mkm reissued a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus target price of $3,384.89.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.