Lincoln National Corp Boosts Holdings in AutoZone, Inc. (NYSE:AZO)

Lincoln National Corp increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 12.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 600 shares of the company’s stock after buying an additional 67 shares during the quarter. Lincoln National Corp’s holdings in AutoZone were worth $1,496,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its holdings in AutoZone by 5,037.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,392,892 shares of the company’s stock valued at $58,264,000 after buying an additional 1,365,781 shares during the period. Moneta Group Investment Advisors LLC boosted its position in shares of AutoZone by 107,977.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock worth $1,724,500,000 after purchasing an additional 698,613 shares during the period. Gateway Advisory LLC boosted its position in shares of AutoZone by 250,309.8% during the 1st quarter. Gateway Advisory LLC now owns 535,877 shares of the company’s stock worth $536,000 after purchasing an additional 535,663 shares during the period. Royal Bank of Canada increased its holdings in AutoZone by 368.0% in the 1st quarter. Royal Bank of Canada now owns 411,450 shares of the company’s stock valued at $841,242,000 after purchasing an additional 323,536 shares during the last quarter. Finally, Norges Bank purchased a new stake in AutoZone in the fourth quarter valued at approximately $658,788,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AZO opened at $2,574.54 on Friday. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $2,750.00. The company has a market cap of $45.40 billion, a P/E ratio of 19.41, a PEG ratio of 1.33 and a beta of 0.65. The business’s 50-day simple moving average is $2,534.06 and its 200-day simple moving average is $2,523.64.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 19th. The company reported $46.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $44.51 by $1.95. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.62 billion. AutoZone had a net margin of 14.48% and a negative return on equity of 60.66%. AutoZone’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $40.51 earnings per share. As a group, analysts predict that AutoZone, Inc. will post 147.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. StockNews.com raised AutoZone from a “hold” rating to a “buy” rating in a research note on Wednesday. Barclays boosted their price target on shares of AutoZone from $2,721.00 to $2,742.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 20th. Evercore ISI raised their price objective on shares of AutoZone from $2,740.00 to $2,750.00 in a research note on Wednesday, September 20th. JPMorgan Chase & Co. lifted their price objective on shares of AutoZone from $2,950.00 to $2,975.00 and gave the company an “overweight” rating in a report on Wednesday, September 20th. Finally, Argus increased their target price on shares of AutoZone from $2,775.00 to $2,920.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $2,793.95.

Insider Buying and Selling at AutoZone

In other news, VP Domingo Hurtado sold 120 shares of AutoZone stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $2,548.03, for a total value of $305,763.60. Following the transaction, the vice president now directly owns 156 shares of the company’s stock, valued at approximately $397,492.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Domingo Hurtado sold 120 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $2,548.03, for a total transaction of $305,763.60. Following the completion of the sale, the vice president now owns 156 shares in the company, valued at $397,492.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Albert Saltiel sold 2,245 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $2,595.04, for a total value of $5,825,864.80. Following the sale, the vice president now directly owns 537 shares of the company’s stock, valued at $1,393,536.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,069 shares of company stock worth $30,651,562. 2.59% of the stock is owned by insiders.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.