Danske Bank A S Acquires New Position in AutoZone, Inc. $AZO

Danske Bank A S bought a new position in AutoZone, Inc. (NYSE:AZO) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,160 shares of the company’s stock, valued at approximately $47,879,000. Danske Bank A S owned approximately 0.07% of AutoZone at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AZO. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter worth $25,000. Raleigh Capital Management Inc. purchased a new position in AutoZone during the third quarter worth about $26,000. Global Trust Asset Management LLC raised its stake in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the period. Loomis Sayles & Co. L P purchased a new stake in AutoZone in the 2nd quarter valued at about $33,000. Finally, Salomon & Ludwin LLC purchased a new position in AutoZone during the third quarter worth about $34,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other AutoZone news, Director Michael A. George purchased 145 shares of AutoZone stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% increase in their position. The acquisition was disclosed in a legal filing 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 that occurred on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,447 shares of company stock valued at $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,363.12 on Thursday. The business’s fifty day moving average price is $3,658.76 and its two-hundred day moving average price is $3,786.15. The stock has a market cap of $55.73 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.76 and a beta of 0.41. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen decreased their price target on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating for the company in a research report on Monday. The Goldman Sachs Group increased their price objective on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Mizuho raised their price objective on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Truist Financial decreased their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $4,312.13.

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.