Nordea Investment Management AB Decreases Stock Holdings in AutoZone, Inc. $AZO

Nordea Investment Management AB lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 19.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,562 shares of the company’s stock after selling 9,530 shares during the quarter. Nordea Investment Management AB owned about 0.24% of AutoZone worth $137,427,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in AutoZone in the third quarter worth approximately $26,000. Global Trust Asset Management LLC grew its position in AutoZone by 600.0% in the 3rd 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 bought a new stake in AutoZone in the 2nd quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC purchased a new stake in AutoZone during the 3rd quarter valued at $34,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Down 1.6%

Shares of AZO opened at $3,287.09 on Monday. The business has a 50-day simple moving average of $3,656.84 and a two-hundred day simple moving average of $3,771.00. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.68 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during 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 firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company posted $28.29 EPS. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AZO. BMO Capital Markets dropped their price target on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Roth Mkm reduced their price objective on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. TD Cowen lowered their target price on AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a report on Monday, March 16th. Raymond James Financial dropped their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,312.13.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction 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 transaction, the director owned 4,887 shares in the company, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,447 shares of company stock valued at $34,179,923 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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.