Andra AP fonden Sells 850 Shares of AutoZone, Inc. $AZO

Andra AP fonden decreased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 20.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,320 shares of the company’s stock after selling 850 shares during the period. Andra AP fonden’s holdings in AutoZone were worth $11,214,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its stake in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of AutoZone during the 2nd quarter worth $356,000. Guggenheim Capital LLC lifted its position in shares of AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after buying an additional 9 shares during the last quarter. NewEdge Advisors LLC boosted its stake in AutoZone by 8.9% in the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after buying an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in AutoZone by 52.3% in the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after buying an additional 4,039 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,009.58 on Wednesday. The stock has a market capitalization of $49.13 billion, a PE ratio of 20.69, a PEG ratio of 1.52 and a beta of 0.33. The business’s 50 day simple moving average is $3,125.74 and its 200 day simple moving average is $3,410.91. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) 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 80.35%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the business earned $35.36 earnings per share. AutoZone’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, research analysts expect that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

AZO has been the topic of several research reports. Robert W. Baird decreased their price target on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a report on Wednesday, May 27th. BNP Paribas Exane dropped their price objective on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. TD Cowen restated a “buy” rating and issued a $3,700.00 target price on shares of AutoZone in a research report on Thursday, June 4th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Morgan Stanley lowered their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Activity at AutoZone

In related news, Director Brian Hannasch acquired 165 shares of the stock in a transaction dated Friday, May 29th. The stock was bought 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 of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

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.