AutoZone, Inc. $AZO Stock: AMF Tjanstepension AB Boosts Position

Key Points

• AMF Tjanstepension AB increased its AutoZone position by 4.4% in the third quarter, holding 21,028 shares valued at approximately $59.5 million. Institutional investors collectively own 92.74% of the company.
• AutoZone reported quarterly revenue of $6.59 billion, up 5.6% year over year, while earnings per share exceeded analyst expectations according to the report.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $3,669.12; the stock opened at $3,270.99 and insiders own 2.60% of shares.

AMF Tjanstepension AB lifted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 4.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,028 shares of the company's stock after acquiring an additional 881 shares during the period. AMF Tjanstepension AB owned 0.13% of AutoZone worth $59,510,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Assenagon Asset Management S.A. boosted its position in shares of AutoZone by 42,984.5% during the third quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company's stock valued at $29,821,658,000 after purchasing an additional 10,513,156 shares in the last quarter. BlackRock Inc. bought a new position in AutoZone in the second quarter worth $3,938,566,000. Sound Income Strategies LLC raised its holdings in AutoZone by 646,568.6% in the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company's stock worth $1,866,687,000 after purchasing an additional 659,500 shares in the last quarter. Howard Capital Management LLC lifted its position in AutoZone by 79,236.8% during the third quarter. Howard Capital Management LLC now owns 385,577 shares of the company's stock valued at $1,091,191,000 after buying an additional 385,091 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in AutoZone by 247,417.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock valued at $798,963,000 after buying an additional 249,892 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insiders Place Their Bets

In related news, VP Dennis LeRiche sold 1,455 shares of the company's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares of the company's stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by insiders.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,270.99 on Friday. The firm's 50 day moving average price is $2,947.68 and its 200-day moving average price is $3,123.72. The company has a market cap of $53.42 billion, a PE ratio of 20.66, a P/E/G ratio of 1.47 and a beta of 0.40. AutoZone, Inc. has a 52-week low of $2,730.65 and a 52-week high of $3,996.25.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $55.51. The firm had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $48.71 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 171.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on AZO shares. Sanford C. Bernstein started coverage on shares of AutoZone in a report on Tuesday, September 29th. They set an "outperform" rating and a $3,698.00 target price on the stock. The Goldman Sachs Group decreased their price target on shares of AutoZone from $4,096.00 to $3,917.00 and set a "buy" rating for the company in a research note on Wednesday, September 23rd. UBS Group set a $3,850.00 price target on shares of AutoZone in a research report on Wednesday, September 23rd. TD Cowen dropped their price objective on shares of AutoZone from $3,500.00 to $3,400.00 and set a "buy" rating on the stock in a research note on Wednesday, September 23rd. Finally, Oppenheimer set a $3,400.00 price objective on shares of AutoZone in a report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $3,669.12.

AutoZone Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.

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