Norges Bank Makes New $939.21 Million Investment in AutoZone, Inc. $AZO

Norges Bank acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 276,929 shares of the company’s stock, valued at approximately $939,205,000.

Several other large investors also recently added to or reduced their stakes in AZO. Northwestern Mutual Wealth Management Co. grew its stake in shares of AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after buying an additional 61,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after buying an additional 50,071 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after buying an additional 45,212 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of AutoZone by 401.2% during the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after buying an additional 41,467 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of AutoZone by 1.5% during the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after buying an additional 26,544 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Key Stories Impacting AutoZone

Here are the key news stories impacting AutoZone this week:

• Positive Sentiment: Several brokerages, including Guggenheim and TD Cowen, reiterated bullish ratings on AutoZone, and other analysts still see meaningful upside despite the selloff.
• Positive Sentiment: AutoZone reported 8.4% year-over-year revenue growth and management said commercial momentum remains strong, with plans to open 355 to 365 new locations this fiscal year.
• Neutral Sentiment: Analyst updates lowered price targets, including moves from Jefferies and BNP Paribas Exane, but both firms kept positive ratings, signaling reduced optimism rather than a bearish call.
• Neutral Sentiment: Market commentary suggests investors are weighing whether the post-earnings decline has created a buying opportunity or whether the stock could fall further from current levels.
• Negative Sentiment: AutoZone’s latest results fell short of revenue expectations, which triggered the stock’s decline as investors focused on the miss rather than the EPS beat. Article: Why AutoZone Stock Slumped This Week
• Negative Sentiment: Some reports say the stock is sliding because investors are concerned that late-quarter softness may point to slowing momentum, despite management’s explanation that weather impacted results.

AutoZone Stock Down 2.3%

AutoZone stock opened at $2,936.42 on Friday. The business has a fifty day moving average of $3,421.80 and a two-hundred day moving average of $3,565.71. The firm has a market cap of $48.39 billion, a P/E ratio of 20.57, a P/E/G ratio of 1.49 and a beta of 0.43. AutoZone, Inc. has a twelve month low of $2,931.65 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $35.36 earnings per share. Equities analysts expect that AutoZone, Inc. will post 150.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AZO shares. Guggenheim cut their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday. Weiss Ratings raised AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday. Robert W. Baird cut their target price on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday. Citigroup cut their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Evercore reaffirmed an “outperform” rating on shares of AutoZone in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is owned by corporate insiders.

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.