Swedbank AB Increases Stock Holdings in AutoZone, Inc. $AZO

Swedbank AB boosted its stake in AutoZone, Inc. (NYSE:AZO) by 22.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,327 shares of the company’s stock after acquiring an additional 5,725 shares during the quarter. Swedbank AB’s holdings in AutoZone were worth $134,400,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Optas LLC acquired a new position in shares of AutoZone during the third quarter worth $206,000. Petredis Investment Advisors LLC increased its stake in AutoZone by 1.1% during the 3rd quarter. Petredis Investment Advisors LLC now owns 760 shares of the company’s stock worth $3,261,000 after buying an additional 8 shares during the period. Vontobel Holding Ltd. increased its stake in AutoZone by 277.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the period. Net Worth Advisory Group acquired a new position in AutoZone in the 3rd quarter worth $222,000. Finally, Farther Finance Advisors LLC boosted its position in AutoZone by 9.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 265 shares of the company’s stock valued at $1,138,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. DA Davidson lowered their target price on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Guggenheim lowered their price objective on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. BNP Paribas Exane cut their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. The Goldman Sachs Group reduced their target price on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, BMO Capital Markets dropped their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $4,317.27.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,460.83 on Wednesday. The company’s fifty day moving average is $3,749.39 and its two-hundred day moving average is $3,881.33. AutoZone, Inc. has a 1-year low of $3,162.00 and a 1-year high of $4,388.11. The stock has a market capitalization of $57.35 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.62 and a beta of 0.40.

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). The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $32.52 earnings per share. Sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has authorized a stock repurchase program on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Brian Hannasch bought 147 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were purchased at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the transaction, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jamere Jackson acquired 55 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was purchased at an average price of $3,413.50 per share, for a total transaction of $187,742.50. Following the completion of the transaction, the chief financial officer owned 488 shares in the company, valued at $1,665,788. The trade was a 12.70% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 347 shares of company stock worth $1,179,256 over the last 90 days. Insiders own 2.60% of the company’s stock.

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.