Andra AP fonden Has $11.21 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Andra AP fonden cut its AutoZone stake by 20.4% in the first quarter, selling 850 shares and leaving it with 3,320 shares worth about $11.21 million.
• AutoZone’s latest earnings beat expectations, posting EPS of $38.07 versus $36.22 consensus, while revenue rose 8.4% year over year to $4.84 billion.
• The company authorized a new $1.5 billion share buyback, allowing repurchases of up to 3% of outstanding stock, as analysts maintain a Moderate Buy consensus with an average price target of $4,040.87.

Andra AP fonden decreased its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,320 shares of the company's stock after selling 850 shares during the quarter. Andra AP fonden's holdings in AutoZone were worth $11,214,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. acquired a new position in AutoZone during the 3rd quarter worth about $25,000. Torren Management LLC bought a new position in shares of AutoZone in the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC raised its stake in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock worth $28,000 after acquiring an additional 4 shares during the last quarter. MCF Advisors LLC lifted its position in shares of AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in shares of AutoZone during the fourth quarter worth approximately $31,000. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch acquired 165 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. BMO Capital Markets lowered their target price on AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating for the company in a research note on Wednesday, May 27th. JPMorgan Chase & Co. decreased their price target on AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating on the stock in a report on Wednesday, May 27th. Roth Capital lowered their price objective on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. TD Cowen reiterated a "buy" rating and issued a $3,700.00 price objective on shares of AutoZone in a research report on Thursday, June 4th. Finally, Weiss Ratings raised AutoZone from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and an average price target of $4,040.87.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,009.58 on Wednesday. The firm'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 fifty-two week low of $2,928.11 and a fifty-two week high of $4,388.11. The company has a market capitalization of $49.13 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 1.52 and a beta of 0.33.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same quarter in the previous year, the company earned $35.36 earnings per share. The business's revenue for the quarter was up 8.4% on a year-over-year basis. Equities research analysts expect that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

AutoZone Company 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.

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