Swedbank AB Boosts Holdings in AutoZone, Inc. $AZO

Swedbank AB raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.9% during the fourth quarter, HoldingsChannel reports. The fund owned 33,479 shares of the company’s stock after acquiring an additional 2,152 shares during the quarter. Swedbank AB’s holdings in AutoZone were worth $113,544,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Turning Point Benefit Group Inc. bought a new position in AutoZone during the 3rd quarter valued at about $25,000. Raleigh Capital Management Inc. bought a new stake in AutoZone in the third quarter worth about $26,000. Torren Management LLC bought a new stake in AutoZone in the fourth quarter worth about $27,000. Global Trust Asset Management LLC boosted its position in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares during the period. Finally, Elevated Capital Advisors LLC purchased a new position in shares of AutoZone during the fourth quarter valued at approximately $37,000. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the 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 transaction, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore upped their target price on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Truist Financial decreased their price target on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective on the stock. in a research report on Monday, February 9th. UBS Group set a $4,800.00 target price on AutoZone in a research note on Tuesday, March 3rd. Finally, Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a research report on Monday, March 9th. One equities research 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 company’s stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,312.13.

AutoZone Stock Performance

AutoZone stock opened at $3,547.40 on Thursday. The company has a market capitalization of $58.46 billion, a PE ratio of 24.85, a P/E/G ratio of 1.81 and a beta of 0.43. The company has a 50 day moving average price of $3,534.84 and a 200-day moving average price of $3,620.94. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.

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, topping the consensus estimate of $27.59 by $0.04. The company had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $28.29 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 148.93 earnings per share for the current year.

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.