AutoZone, Inc. $AZO Shares Acquired by AMF Tjanstepension AB

AMF Tjanstepension AB grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 2.8% during the first quarter, Holdings Channel reports. The firm owned 20,147 shares of the company’s stock after acquiring an additional 548 shares during the quarter. AMF Tjanstepension AB’s holdings in AutoZone were worth $68,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lazard Asset Management LLC lifted its position in shares of AutoZone by 6.2% during the second quarter. Lazard Asset Management LLC now owns 51 shares of the company’s stock valued at $189,000 after purchasing an additional 3 shares in the last quarter. Johnson Financial Group Inc. raised its position in shares of AutoZone by 30.0% in the third quarter. Johnson Financial Group Inc. now owns 13 shares of the company’s stock valued at $56,000 after purchasing an additional 3 shares during the period. L2 Asset Management LLC raised its holdings in AutoZone by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 78 shares of the company’s stock valued at $335,000 after acquiring an additional 3 shares during the period. Second Line Capital LLC increased its position in shares of AutoZone by 2.0% during the third quarter. Second Line Capital LLC now owns 153 shares of the company’s stock valued at $656,000 after buying an additional 3 shares during the period. Finally, Brookstone Capital Management boosted its holdings in AutoZone by 2.1% in the 4th quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after purchasing an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AZO. TD Cowen reissued a “buy” rating and issued a $3,700.00 price target on shares of AutoZone in a research note on Thursday, June 4th. Citigroup cut their price objective on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Guggenheim lowered their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,073.10 on Monday. The stock’s fifty day moving average is $3,195.88 and its 200 day moving average is $3,431.01. The stock has a market cap of $50.17 billion, a P/E ratio of 21.13, a P/E/G ratio of 1.56 and a beta of 0.33. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11.

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

AutoZone announced that its board has initiated a stock repurchase plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by insiders.

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.