Handelsbanken Fonder AB Trims Holdings in AutoZone, Inc. $AZO

Handelsbanken Fonder AB trimmed its stake in shares of AutoZone, Inc. (NYSE:AZO) by 6.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,964 shares of the company’s stock after selling 628 shares during the quarter. Handelsbanken Fonder AB owned 0.05% of AutoZone worth $38,458,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AZO. Vanguard Group Inc. lifted its holdings in shares of AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock worth $7,711,912,000 after buying an additional 26,544 shares in the last quarter. Laurel Wealth Advisors LLC increased its holdings in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after acquiring an additional 935,230 shares during the period. State Street Corp lifted its stake in AutoZone by 1.6% in the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after purchasing an additional 11,088 shares in the last quarter. Geode Capital Management LLC boosted its holdings in AutoZone by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after purchasing an additional 8,187 shares during the period. Finally, Norges Bank bought a new position in AutoZone in the 2nd quarter valued at $981,202,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $3,751.68 on Friday. The company has a market capitalization of $62.17 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.74 and a beta of 0.41. The business has a 50 day moving average of $3,594.55 and a 200 day moving average of $3,831.70. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 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 business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period last year, the business posted $32.52 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Insiders Place Their Bets

In other AutoZone news, Director Michael A. George purchased 145 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the transaction, the director directly owned 566 shares in the company, valued at approximately $1,923,341.58. This represents a 34.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Brian Hannasch acquired 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were bought at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. The trade was a 18.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial decreased their price target on shares of AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. The Goldman Sachs Group upped their target price on AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. TD Cowen reiterated a “buy” rating on shares of AutoZone in a research report on Monday. Jefferies Financial Group restated a “buy” rating and issued a $4,400.00 price objective on shares of AutoZone in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed 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 issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,280.63.

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.