Nykredit A S Invests $31.90 Million in AutoZone, Inc. $AZO

Nykredit A S acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 2nd quarter, HoldingsChannel reports. The fund acquired 9,982 shares of the company’s stock, valued at approximately $31,902,000.

A number of other institutional investors have also recently made changes to their positions in AZO. B. Metzler seel. Sohn & Co. AG increased its stake in AutoZone by 89.3% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 9,069 shares of the company’s stock worth $28,984,000 after buying an additional 4,277 shares during the period. Atticus Wealth Management LLC lifted its holdings in AutoZone by 4.3% during the 2nd quarter. Atticus Wealth Management LLC now owns 120 shares of the company’s stock worth $384,000 after buying an additional 5 shares in the last quarter. Natural Investments LLC boosted its position in AutoZone by 9.2% in the 2nd quarter. Natural Investments LLC now owns 95 shares of the company’s stock valued at $302,000 after buying an additional 8 shares during the period. Proficio Capital Partners LLC purchased a new position in AutoZone in the 2nd quarter valued at approximately $419,000. Finally, NS Partners Ltd boosted its position in AutoZone by 4,919.3% in the 2nd quarter. NS Partners Ltd now owns 5,973 shares of the company’s stock valued at $19,089,000 after buying an additional 5,854 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on AZO shares. JPMorgan Chase & Co. cut their price objective on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley decreased their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 target price on AutoZone in a research note on Wednesday, May 27th. BNP Paribas Exane lowered their target price on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Finally, Piper Sandler set a $3,500.00 price target on AutoZone in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $3,999.04.

AutoZone Trading Up 1.2%

Shares of AZO opened at $2,969.11 on Friday. The firm has a market capitalization of $48.49 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.47 and a beta of 0.34. The firm’s fifty day simple moving average is $3,039.20 and its 200-day simple moving average is $3,282.96. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11.

AutoZone declared that its board has approved a share repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

AutoZone 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.