BI Asset Management Fondsmaeglerselskab A S Lowers Stock Holdings in AutoZone, Inc. $AZO

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in AutoZone, Inc. (NYSE:AZO) by 66.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 401 shares of the company’s stock after selling 803 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in AutoZone were worth $1,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone in the third quarter worth about $25,000. Torren Management LLC bought a new stake in AutoZone during the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors LLC raised its stake in AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares during the period. MCF Advisors LLC lifted its holdings in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares in the last quarter. Finally, Bard Associates Inc. purchased a new position in shares of AutoZone in the fourth quarter worth $31,000. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 1.4%

NYSE:AZO opened at $3,089.63 on Thursday. The company has a market cap of $50.45 billion, a price-to-earnings ratio of 21.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.35. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The stock has a fifty day simple moving average of $3,305.72 and a 200-day simple moving average of $3,464.29.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $35.36 earnings per share. As a group, equities research analysts predict that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone declared that its board has approved a share repurchase plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to buy up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Weiss Ratings lowered AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Robert W. Baird cut their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Guggenheim reduced their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, Argus raised AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective on the stock in a research note on Monday, March 9th. One 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. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.60% of the company’s stock.

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.