DNB Asset Management AS Buys 150 Shares of AutoZone, Inc. $AZO

DNB Asset Management AS raised its stake in AutoZone, Inc. (NYSE:AZO) by 5.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,159 shares of the company’s stock after purchasing an additional 150 shares during the quarter. DNB Asset Management AS’s holdings in AutoZone were worth $13,553,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares in the last quarter. Braun Stacey Associates Inc. boosted its position in AutoZone by 7.8% in the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after purchasing an additional 613 shares during the last quarter. Summit Global Investments boosted its position in 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 last quarter. Foundations Investment Advisors LLC bought a new position in AutoZone in the 3rd quarter valued at $678,000. Finally, First Horizon Corp purchased a new stake in shares of AutoZone during the 3rd quarter valued at $2,038,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AZO. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Roth Mkm reiterated a “buy” rating and issued a $4,650.00 target price (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Oppenheimer decreased their price target on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Raymond James Financial lowered their price target on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a report on Wednesday, December 10th. Finally, Wells Fargo & Company reduced their price objective on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4,280.63.

Insider Buying and Selling at AutoZone

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the sale, the director directly owned 3,564 shares in the company, valued at $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the transaction, the director owned 4,887 shares of the company’s stock, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by corporate insiders.

AutoZone Trading Up 2.5%

AutoZone stock opened at $3,751.68 on Friday. The firm has a 50 day simple moving average of $3,594.55 and a 200 day simple moving average of $3,830.52. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The firm has a market capitalization of $62.17 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.78 and a beta of 0.41.

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

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.