AMF Tjanstepension AB Lowers Stock Holdings in AutoZone, Inc. $AZO

AMF Tjanstepension AB reduced its position in AutoZone, Inc. (NYSE:AZO) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,859 shares of the company’s stock after selling 4,426 shares during the quarter. AMF Tjanstepension AB’s holdings in AutoZone were worth $29,427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of AutoZone by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after purchasing an additional 11,142 shares during the period. Laurel Wealth Advisors LLC increased its stake in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after buying an additional 935,230 shares during the period. State Street Corp lifted its holdings in AutoZone by 1.6% during the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after buying an additional 11,088 shares in the last quarter. Geode Capital Management LLC boosted its position in AutoZone by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after buying an additional 8,187 shares during the period. Finally, Norges Bank purchased a new position in AutoZone in the 2nd quarter valued at approximately $981,202,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Up 0.0%

Shares of AutoZone stock opened at $3,698.69 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm’s 50 day moving average is $3,585.72 and its two-hundred day moving average is $3,848.50. The firm has a market capitalization of $61.28 billion, a P/E ratio of 25.79, a P/E/G ratio of 1.77 and a beta of 0.42.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company 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 quarter in the previous year, the company posted $32.52 EPS. As a group, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its board has authorized a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AZO shares. Guggenheim cut their price objective on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Robert W. Baird raised AutoZone to a “strong-buy” rating in a research note on Thursday, December 4th. Erste Group Bank downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Citigroup reduced their price target on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Finally, TD Cowen lowered their price objective on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Two research analysts have 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4,285.00.

Insider Buying and Selling

In related news, Director Michael A. George acquired 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP K. Michelle Borninkhof sold 300 shares of AutoZone stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the sale, the senior vice president owned 416 shares in the company, valued at $1,570,400. This trade represents a 41.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 347 shares of company stock valued at $1,179,256 and have sold 3,837 shares valued at $13,445,423. Insiders own 2.60% of the company’s stock.

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.