Livforsakringsbolaget Skandia Omsesidigt Raises Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in AutoZone, Inc. by 20.5%, now owning 3,931 shares valued at approximately $14.59 million.
• Institutional investors collectively hold 92.74% of AutoZone’s stock, indicating significant confidence in the company's future.
• Wall Street analysts have increased their target prices for AutoZone, with ratings suggesting a consensus "Buy" and a target price of about $4,368.95.

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 20.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 3,931 shares of the company's stock after purchasing an additional 670 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in AutoZone were worth $14,590,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd grew its holdings in AutoZone by 0.4% during the second quarter. IFM Investors Pty Ltd now owns 3,307 shares of the company's stock valued at $12,276,000 after purchasing an additional 12 shares during the period. Grove Bank & Trust grew its holdings in AutoZone by 30.3% during the second quarter. Grove Bank & Trust now owns 43 shares of the company's stock valued at $160,000 after purchasing an additional 10 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in AutoZone during the second quarter valued at about $187,000. YHB Investment Advisors Inc. grew its holdings in AutoZone by 3.7% during the second quarter. YHB Investment Advisors Inc. now owns 813 shares of the company's stock valued at $3,018,000 after purchasing an additional 29 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in AutoZone by 5.1% during the second quarter. Contravisory Investment Management Inc. now owns 267 shares of the company's stock valued at $991,000 after purchasing an additional 13 shares during the period. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AZO. UBS Group upped their price objective on AutoZone from $4,260.00 to $4,925.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Citigroup increased their price target on AutoZone from $3,900.00 to $4,900.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. BMO Capital Markets reissued an "outperform" rating and set a $4,100.00 price target (up from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Guggenheim increased their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Truist Financial upped their price objective on AutoZone from $4,038.00 to $4,504.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $4,449.18.

AutoZone Price Performance

NYSE AZO traded down $64.00 during midday trading on Tuesday, hitting $4,057.00. 149,807 shares of the company traded hands, compared to its average volume of 129,902. The company has a market cap of $68.08 billion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 2.29 and a beta of 0.41. The company's 50-day simple moving average is $4,041.27 and its 200-day simple moving average is $3,805.01. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts' consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%.The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $51.58 EPS. On average, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling at AutoZone

In other news, VP Richard Craig Smith sold 3,000 shares of the firm's stock in a transaction on 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 completion of the sale, the vice president owned 2,925 shares of the company's stock, valued at $11,337,007.50. This trade represents a 50.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by insiders.

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.