Swedbank AB Purchases 8,747 Shares of AutoZone, Inc. $AZO

Key Points

• Swedbank AB significantly increased its stake in AutoZone by 51.9% in Q2, now owning 25,602 shares valued at approximately $95 million.
• Analysts have a positive outlook on AutoZone, with a consensus rating of "Buy" and target prices ranging from $3,811 to $4,925.
• Insider trading activity includes VP Richard Craig Smith selling 3,000 shares for over $11.6 million, decreasing his position by approximately 50.63%.

Swedbank AB lifted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 51.9% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 25,602 shares of the company's stock after acquiring an additional 8,747 shares during the quarter. Swedbank AB owned 0.15% of AutoZone worth $95,041,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AlphaCore Capital LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new stake in shares of AutoZone in the 1st quarter worth approximately $27,000. Financial Network Wealth Advisors LLC lifted its holdings in shares of AutoZone by 66.7% in the 1st quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company's stock worth $38,000 after acquiring an additional 4 shares during the last quarter. Cornerstone Planning Group LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $44,000. Finally, Clearstead Trust LLC bought a new stake in shares of AutoZone in the 1st quarter worth approximately $46,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Down 0.6%

NYSE AZO traded down $25.29 during trading on Monday, hitting $4,115.07. The company had a trading volume of 192,617 shares, compared to its average volume of 111,626. AutoZone, Inc. has a one year low of $2,898.57 and a one year high of $4,388.11. The company has a market cap of $69.05 billion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 2.29 and a beta of 0.41. The company's fifty day moving average is $4,041.27 and its 200-day moving average is $3,805.01.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of recent analyst reports. Evercore ISI upped their price target on shares of AutoZone from $4,250.00 to $4,500.00 and gave the company an "outperform" rating in a report on Thursday. TD Cowen upped their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a "buy" rating in a report on Thursday. Roth Capital upped their price target on shares of AutoZone from $4,135.00 to $4,800.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Finally, Wells Fargo & Company upped their price target on shares of AutoZone from $4,200.00 to $4,800.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $4,449.18.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the completion of the transaction, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by insiders.

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.