DNB Asset Management AS Acquires 150 Shares of AutoZone, Inc. $AZO

DNB Asset Management AS grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 5.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,159 shares of the company’s stock after purchasing an additional 150 shares during the period. DNB Asset Management AS’s holdings in AutoZone were worth $13,553,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Raleigh Capital Management Inc. purchased a new position in AutoZone in the 3rd quarter worth approximately $26,000. Global Trust Asset Management LLC lifted its holdings in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares during the last quarter. Aspect Partners LLC grew its position in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares in the last quarter. Salomon & Ludwin LLC bought a new position in AutoZone in the third quarter valued at $34,000. Finally, NewSquare Capital LLC raised its position in AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the sale, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Hannasch purchased 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AZO shares. Roth Mkm reaffirmed a “buy” rating and set a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. BMO Capital Markets dropped their target price on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. Wells Fargo & Company reduced their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,280.63.

AutoZone Stock Performance

NYSE:AZO opened at $3,751.68 on Friday. The firm has a market cap of $62.17 billion, a PE ratio of 26.16, a price-to-earnings-growth 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. The business has a 50 day moving average price of $3,594.55 and a 200-day moving average price of $3,830.52.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $32.52 earnings per share. Research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.