Livforsakringsbolaget Skandia Omsesidigt Has $902.93 Million Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Livforsakringsbolaget Skandia Omsesidigt significantly increased its stake in AutoZone, acquiring 239,970 shares, which raises its total holdings to 243,231 shares valued at approximately $902.9 million.
• Several institutional investors, including GAMMA Investing LLC and JPMorgan Chase & Co., have made substantial changes to their positions in AutoZone, indicating growing interest from hedge funds.
• AutoZone's stock received multiple analyst upgrades, with target prices rising significantly, reflecting a positive outlook for the company's performance.

Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 7,358.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,231 shares of the company's stock after purchasing an additional 239,970 shares during the period. AutoZone accounts for about 1.1% of Livforsakringsbolaget Skandia Omsesidigt's holdings, making the stock its 2nd biggest position. Livforsakringsbolaget Skandia Omsesidigt owned approximately 1.45% of AutoZone worth $902,929,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after buying an additional 3 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its holdings in AutoZone by 10.1% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after buying an additional 271 shares during the last quarter. Kirr Marbach & Co. LLC IN increased its holdings in AutoZone by 0.9% during the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after buying an additional 68 shares during the last quarter. Banco Santander S.A. increased its holdings in AutoZone by 98.3% during the first quarter. Banco Santander S.A. now owns 829 shares of the company's stock worth $3,161,000 after buying an additional 411 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in AutoZone during the first quarter worth about $545,000. 92.74% of the stock is owned by institutional investors.

Insider Activity at AutoZone

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company's stock.

Analysts Set New Price Targets

AZO has been the subject of several recent research reports. DA Davidson lifted their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Barclays lifted their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. BMO Capital Markets reiterated an "outperform" rating and issued a $4,100.00 target price (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $4,339.33.

AutoZone Stock Up 0.0%

NYSE:AZO traded up $0.46 during mid-day trading on Wednesday, hitting $4,224.39. 106,776 shares of the stock traded hands, compared to its average volume of 101,550. The business's 50-day moving average price is $4,017.73 and its 200 day moving average price is $3,789.63. The company has a market cap of $70.89 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 2.23 and a beta of 0.41. AutoZone, Inc. has a 12-month low of $2,898.57 and a 12-month high of $4,388.11.

About AutoZone

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.