AutoZone, Inc. $AZO Shares Sold by AMF Tjanstepension AB

AMF Tjanstepension AB cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 39.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,859 shares of the company’s stock after selling 4,426 shares during the period. AMF Tjanstepension AB’s holdings in AutoZone were worth $29,427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Avantax Advisory Services Inc. raised its position in AutoZone by 8.3% during the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after buying an additional 210 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in shares of AutoZone by 7.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after acquiring an additional 613 shares during the last quarter. Exchange Traded Concepts LLC increased its stake 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 acquiring an additional 591 shares during the period. Emerald Advisers LLC raised its holdings in shares of AutoZone by 60.0% during the second quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after purchasing an additional 84 shares during the last quarter. Finally, Hager Investment Management Services LLC lifted its position in AutoZone by 70.9% during the second quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock valued at $1,745,000 after purchasing an additional 195 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity

In other news, VP Richard Craig Smith sold 3,190 shares of the stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $3,500.00, for a total value of $11,165,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,194,500. This represents a 54.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the sale, the director directly owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. This trade represents a 2.65% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 347 shares of company stock valued at $1,179,256 and sold 3,837 shares valued at $13,445,423. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Performance

NYSE:AZO opened at $3,698.69 on Friday. The stock has a market capitalization of $61.28 billion, a PE ratio of 25.79, a P/E/G ratio of 1.77 and a beta of 0.42. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The company has a fifty day moving average of $3,585.72 and a two-hundred day moving average of $3,848.50.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $32.52 earnings per share. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AZO. Wells Fargo & Company cut their price target on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Barclays set a $3,880.00 target price on AutoZone in a research note on Thursday, January 8th. UBS Group dropped their target price on AutoZone from $4,800.00 to $4,325.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. DA Davidson decreased their price target on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, BMO Capital Markets lowered their price objective on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

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.