APG Asset Management N.V. Sells 290 Shares of AutoZone, Inc. $AZO

APG Asset Management N.V. decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,650 shares of the company’s stock after selling 290 shares during the quarter. APG Asset Management N.V.’s holdings in AutoZone were worth $84,303,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Brighton Jones LLC grew its holdings in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in AutoZone during the second quarter valued at approximately $356,000. Keybank National Association OH grew its stake in AutoZone by 7.0% in the second quarter. Keybank National Association OH now owns 443 shares of the company’s stock valued at $1,645,000 after purchasing an additional 29 shares in the last quarter. Savvy Advisors Inc. grew its stake in AutoZone by 23.8% in the second quarter. Savvy Advisors Inc. now owns 78 shares of the company’s stock valued at $290,000 after purchasing an additional 15 shares in the last quarter. Finally, Strs Ohio increased its position in shares of AutoZone by 39.8% during the 2nd quarter. Strs Ohio now owns 5,277 shares of the company’s stock worth $19,589,000 after purchasing an additional 1,503 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

Shares of AZO stock opened at $3,751.68 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The company has a market capitalization of $62.17 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 1.78 and a beta of 0.41. The company has a 50-day simple moving average of $3,594.55 and a 200 day simple moving average of $3,830.52.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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 company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $32.52 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Transactions at AutoZone

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director owned 3,564 shares in the company, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael A. George bought 145 shares of AutoZone stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the transaction, the director owned 566 shares of the company’s stock, valued at $1,923,341.58. This trade represents a 34.44% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several recent analyst reports. Citigroup cut their price objective on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Roth Mkm reiterated a “buy” rating and issued a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. Morgan Stanley lowered their price objective on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating on the stock in a research note on Thursday, January 15th. Evercore upped their target price on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $4,400.00 price target on shares of AutoZone in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus target price of $4,280.63.

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.