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

Key Points

• AMF Tjanstepension AB increased its stake in AutoZone, Inc. (AZO) by 43.7%, bringing its total ownership to approximately $41.9 million after purchasing an additional 3,432 shares.
• Wall Street analysts have generally rated AutoZone positively, with an average target price of $4,538.21 and 23 of 27 analysts giving the stock a Buy rating.
• AutoZone reported earnings of $48.71 per share for the latest quarter, missing estimates, while posting revenue of $6.24 billion.

AMF Tjanstepension AB raised its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 43.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,285 shares of the company's stock after buying an additional 3,432 shares during the quarter. AMF Tjanstepension AB owned approximately 0.07% of AutoZone worth $41,893,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC grew its stake in AutoZone by 2.2% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after purchasing an additional 3 shares in the last quarter. Focus Financial Network Inc. boosted its stake in shares of AutoZone by 2.9% in the 1st quarter. Focus Financial Network Inc. now owns 105 shares of the company's stock valued at $400,000 after buying an additional 3 shares during the period. Blue Trust Inc. boosted its stake in shares of AutoZone by 3.5% in the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after buying an additional 3 shares during the period. Rappaport Reiches Capital Management LLC grew its position in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company's stock worth $252,000 after buying an additional 3 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company's stock worth $50,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. TD Cowen lifted their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a "buy" rating in a research note on Thursday, September 18th. Cowen restated a "buy" rating on shares of AutoZone in a report on Thursday, September 18th. BNP Paribas Exane boosted their target price on shares of AutoZone from $4,155.00 to $4,811.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Barclays raised their price target on AutoZone from $3,916.00 to $4,610.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, Jefferies Financial Group lifted their price target on AutoZone from $4,255.00 to $4,750.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, AutoZone currently has an average rating of "Moderate Buy" and an average target price of $4,538.21.

Insider Buying and Selling

In other news, VP John Scott Murphy sold 2,860 shares of the firm's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.10% of the company's stock.

AutoZone Stock Performance

AZO opened at $4,219.73 on Friday. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11. The stock has a market capitalization of $70.81 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 2.00 and a beta of 0.40. The business's 50-day simple moving average is $4,126.05 and its 200-day simple moving average is $3,840.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $51.58 earnings per share. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone Company Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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