Handelsbanken Fonder AB Sells 709 Shares of AutoZone, Inc. $AZO

Handelsbanken Fonder AB lowered its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,658 shares of the company's stock after selling 709 shares during the quarter. Handelsbanken Fonder AB's holdings in AutoZone were worth $24,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. Sigma Planning Corp raised its position in shares of AutoZone by 3.6% during the fourth quarter. Sigma Planning Corp now owns 86 shares of the company's stock worth $292,000 after acquiring an additional 3 shares during the last quarter. Midwest Trust Co increased its position in AutoZone by 4.2% during the 4th quarter. Midwest Trust Co now owns 74 shares of the company's stock valued at $251,000 after purchasing an additional 3 shares during the period. Arrowroot Family Office LLC raised its holdings in AutoZone by 5.4% during the 4th quarter. Arrowroot Family Office LLC now owns 59 shares of the company's stock worth $200,000 after purchasing an additional 3 shares during the last quarter. MCF Advisors LLC raised its holdings in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after purchasing an additional 3 shares during the last quarter. Finally, IVC Wealth Advisors LLC lifted its position in shares of AutoZone by 2.9% in the 1st quarter. IVC Wealth Advisors LLC now owns 107 shares of the company's stock worth $361,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Brian Hannasch purchased 165 shares of the business's stock in a transaction that occurred on 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 acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Dennis W. Leriche sold 1,455 shares of the business'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 completion of the transaction, the vice president owned 441 shares in the company, valued at $1,367,100. The trade was a 76.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AZO. DA Davidson decreased their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Weiss Ratings cut shares of 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 report on Wednesday, May 27th. Evercore reissued an "outperform" rating on shares of AutoZone in a research report on Tuesday, May 26th. Finally, Robert W. Baird cut their target price on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 27th. One 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 stock. According to data from MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and a consensus target price of $4,029.43.

AutoZone Trading Down 0.1%

AZO opened at $3,038.92 on Thursday. The company's fifty day moving average price is $3,066.18 and its two-hundred day moving average price is $3,364.71. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11. The company has a market cap of $49.63 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.54 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. The firm had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business's revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $35.36 earnings per share. As a group, equities analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone declared that its board has authorized a share buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

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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