Pensionfund Sabic Makes New $1.29 Million Investment in AutoZone, Inc. $AZO

Pensionfund Sabic bought a new position in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 380 shares of the company’s stock, valued at approximately $1,289,000.

A number of other institutional investors also recently modified their holdings of AZO. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in AutoZone by 6.6% during the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock valued at $21,315,000 after buying an additional 306 shares during the period. Braun Stacey Associates Inc. increased its stake in AutoZone by 7.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after acquiring an additional 613 shares during the last quarter. Summit Global Investments raised its holdings in shares of AutoZone by 132.8% in the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after acquiring an additional 182 shares in the last quarter. Numerai GP LLC raised its holdings in shares of AutoZone by 1,199.3% in the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after acquiring an additional 1,619 shares in the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at about $678,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares in the company, valued at $9,719,900. The trade was 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 link. Also, Director Earl G. Graves, Jr. sold 250 shares of the 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 value of $823,750.00. Following the completion of the sale, the director owned 4,887 shares of the company’s stock, 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 a total of 9,447 shares of company stock worth $34,179,923 in the last 90 days. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AZO. Raymond James Financial cut their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a report on Wednesday, December 10th. Barclays raised their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Robert W. Baird lowered shares of AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target on the stock. in a report on Monday, February 9th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average target price of $4,312.13.

AutoZone Stock Down 0.2%

NYSE:AZO opened at $3,346.50 on Wednesday. The firm has a market capitalization of $55.15 billion, a P/E ratio of 23.44, a P/E/G ratio of 1.71 and a beta of 0.41. The company has a fifty day moving average of $3,650.25 and a 200 day moving average of $3,758.71. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last released 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 firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $28.29 earnings per share. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

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.