Lansforsakringar Fondforvaltning AB publ Increases Stake in AutoZone, Inc. $AZO

Lansforsakringar Fondforvaltning AB publ boosted its position in AutoZone, Inc. (NYSE:AZO) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,890 shares of the company’s stock after purchasing an additional 225 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in AutoZone were worth $16,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AZO. Vanguard Group Inc. boosted its position in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after buying an additional 26,544 shares during the period. Laurel Wealth Advisors LLC lifted its holdings in shares of AutoZone by 371,123.0% in 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 increased its stake in shares of AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after buying an additional 11,088 shares during the period. Geode Capital Management LLC lifted its stake in AutoZone by 1.9% in the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after acquiring an additional 8,187 shares during the period. Finally, Norges Bank bought a new position in shares of AutoZone during the second quarter valued at approximately $981,202,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AZO shares. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. 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 report on Wednesday, December 10th. Zacks Research upgraded AutoZone from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Oppenheimer dropped their target price on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a research report on Friday, January 9th. Finally, JPMorgan Chase & Co. dropped their price target on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating on the stock in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,271.25.

Insider Activity at AutoZone

In other AutoZone news, Director Michael A. George acquired 145 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were bought at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the acquisition, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director owned 962 shares in the company, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AZO opened at $3,751.33 on Monday. The company has a fifty day moving average of $3,563.31 and a two-hundred day moving average of $3,839.55. The stock has a market capitalization of $62.16 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.78 and a beta of 0.41. 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 posted 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). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the previous year, the company earned $32.52 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone Company 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.