KLP Kapitalforvaltning AS Acquires 300 Shares of AutoZone, Inc. $AZO

Key Points

• KLP Kapitalforvaltning AS has increased its stake in AutoZone, Inc. by 5.0%, acquiring an additional 300 shares and bringing its total holdings to $23.2 million.
• Insider transactions revealed two VPs sold significant portions of their shares, with transactions totaling over $23 million, marking declines in their ownership positions of 69.69% and 50.63% respectively.
• AutoZone reported earnings per share of $48.71 for the last quarter, missing estimates and reflecting a negative return on equity of 60.49%.

KLP Kapitalforvaltning AS raised its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,249 shares of the company's stock after purchasing an additional 300 shares during the period. KLP Kapitalforvaltning AS's holdings in AutoZone were worth $23,198,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position in AutoZone by 3.5% during the 1st quarter. Blue Trust Inc. now owns 89 shares of the company's stock valued at $339,000 after purchasing an additional 3 shares in the last quarter. Kirr Marbach & Co. LLC IN raised its position in AutoZone by 0.9% during the 1st quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock valued at $29,591,000 after purchasing an additional 68 shares in the last quarter. Banco Santander S.A. raised its position in AutoZone by 98.3% during the 1st quarter. Banco Santander S.A. now owns 829 shares of the company's stock valued at $3,161,000 after purchasing an additional 411 shares in the last quarter. Alpine Bank Wealth Management bought a new stake in AutoZone during the 1st quarter valued at $545,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of AutoZone by 19.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,607 shares of the company's stock valued at $6,127,000 after acquiring an additional 260 shares during the period. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

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

AutoZone Price Performance

Shares of AZO stock opened at $4,076.31 on Wednesday. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11. The stock's fifty day moving average price is $4,137.72 and its 200 day moving average price is $3,850.01. The company has a market cap of $68.40 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 1.96 and a beta of 0.40.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AZO shares. Roth Capital reiterated a "buy" rating and issued a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. BNP Paribas Exane lifted their price target on AutoZone from $4,155.00 to $4,811.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Cowen reiterated a "buy" rating on shares of AutoZone in a report on Thursday, September 18th. JPMorgan Chase & Co. lifted their price target on AutoZone from $4,200.00 to $4,850.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Finally, DA Davidson reiterated a "buy" rating and issued a $4,850.00 price target on shares of AutoZone in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, AutoZone presently has an average rating of "Moderate Buy" and a consensus target price of $4,538.21.

AutoZone 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.