Avanza Fonder AB Grows Stake in AutoZone, Inc. $AZO

Avanza Fonder AB increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,940 shares of the company’s stock after purchasing an additional 219 shares during the quarter. Avanza Fonder AB’s holdings in AutoZone were worth $6,580,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC grew its holdings in AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the last quarter. Norges Bank acquired a new position in shares of AutoZone during the 2nd quarter worth $981,202,000. Vontobel Holding Ltd. raised its stake in shares of AutoZone by 277.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of AutoZone by 80.8% in the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of AutoZone by 401.2% in the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after buying an additional 41,467 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

AutoZone stock opened at $3,355.75 on Tuesday. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The stock has a market capitalization of $55.60 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.68 and a beta of 0.41. The firm’s 50-day moving average is $3,653.49 and its two-hundred day moving average is $3,764.83.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $28.29 earnings per share. As a group, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. The Goldman Sachs Group upped their price target on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Guggenheim lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research note on Thursday, March 5th. Finally, TD Cowen cut their price objective on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,312.13.

Insiders Place Their Bets

In other news, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value 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. The trade was a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 9,447 shares of company stock valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

AutoZone Company Profile

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.