Danica Pension Livsforsikringsaktieselskab Purchases New Position in AutoZone, Inc. $AZO

Danica Pension Livsforsikringsaktieselskab acquired a new position in AutoZone, Inc. (NYSE:AZO - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,963 shares of the company's stock, valued at approximately $25,449,000.

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

Wall Street Analyst Weigh In

Several equities analysts have commented on AZO shares. DA Davidson lowered their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings cut AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group decreased their price target on AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. TD Cowen reissued a "buy" rating and set a $3,700.00 price objective on shares of AutoZone in a report on Thursday, June 4th. Finally, Roth Capital cut their price objective on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4,029.43.

AutoZone Trading Up 1.9%

NYSE:AZO opened at $3,077.21 on Wednesday. The firm has a market capitalization of $50.25 billion, a PE ratio of 21.16, a PEG ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The firm's fifty day simple moving average is $3,061.14 and its 200 day simple moving average is $3,344.23.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping 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 analyst estimates of $4.86 billion. During the same quarter in the previous year, the business earned $35.36 EPS. The business's revenue was up 8.4% on a year-over-year basis. As a group, analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone announced that its board has authorized a stock repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the company's stock in a transaction dated Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares of the company's stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Dennis W. Leriche sold 1,455 shares of the business's stock in a transaction dated 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 $1,367,100. This represents a 76.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.60% of the company's stock.

About AutoZone

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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