Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 720 Shares of AutoZone, Inc. $AZO

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 8.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,839 shares of the company’s stock after acquiring an additional 720 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.05% of AutoZone worth $29,977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the third quarter worth $25,000. Torren Management LLC bought a new stake in AutoZone during the fourth quarter worth $27,000. Newport Capital Group LLC bought a new stake in AutoZone during the fourth quarter worth $35,000. Elevated Capital Advisors LLC bought a new stake in AutoZone during the fourth quarter worth $37,000. Finally, Ares Financial Consulting LLC bought a new stake in AutoZone during the fourth quarter worth $37,000. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of AZO opened at $3,116.41 on Friday. The firm has a market capitalization of $51.36 billion, a PE ratio of 21.43, a PEG ratio of 1.57 and a beta of 0.35. The company’s 50-day moving average is $3,393.83 and its 200-day moving average is $3,540.32. AutoZone, Inc. has a fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the firm earned $35.36 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. Analysts predict that AutoZone, Inc. will post 150.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on AZO shares. Mizuho dropped their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research report on Monday, March 9th. BMO Capital Markets dropped their price objective on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

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.