Nordea Investment Management AB Sells 9,530 Shares of AutoZone, Inc. $AZO

Nordea Investment Management AB lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 19.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,562 shares of the company’s stock after selling 9,530 shares during the quarter. Nordea Investment Management AB’s holdings in AutoZone were worth $137,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. bought a new position in AutoZone in the 3rd quarter worth approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in AutoZone during the 3rd quarter valued at approximately $26,000. Global Trust Asset Management LLC raised its position in shares of AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after buying an additional 6 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of AutoZone during the second quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC purchased a new position in shares of AutoZone in the third quarter worth $34,000. Institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the transaction, the director directly owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,447 shares of company stock worth $34,179,923 over the last quarter. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on AZO shares. Roth Mkm cut their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. BNP Paribas Exane decreased their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a report on Monday, March 9th. Morgan Stanley raised their price objective on AutoZone from $4,000.00 to $4,020.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. Finally, Robert W. Baird cut AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 target price on the stock. in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4,312.13.

AutoZone Price Performance

NYSE:AZO opened at $3,287.09 on Monday. The firm has a market capitalization of $54.47 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 1.68 and a beta of 0.41. The business has a 50 day simple moving average of $3,656.84 and a 200-day simple moving average of $3,771.00. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the company posted $28.29 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.