Nykredit A S Takes Position in AutoZone, Inc. $AZO

Key Points

• Nykredit A/S acquired 9,982 AutoZone shares worth approximately $31.9 million in the second quarter, joining other institutional investors. Institutions and hedge funds collectively own 92.74% of the company.
• AutoZone launched a $1.5 billion share-repurchase program, authorizing buybacks of up to 3% of outstanding shares, while Vice President Dennis LeRiche sold shares valued at $4.51 million.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $3,999.04, despite recent target reductions. AutoZone shares opened at $2,969.11, near their 52-week low of $2,902.20.

Nykredit A S acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,982 shares of the company's stock, valued at approximately $31,902,000. Nykredit A S owned 0.06% of AutoZone at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new position in AutoZone in the 3rd quarter valued at about $25,000. Transamerica Financial Advisors LLC increased its holdings in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock worth $28,000 after buying an additional 4 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of AutoZone during the 2nd quarter worth approximately $29,000. MCF Advisors LLC raised its position in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company's stock valued at $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. purchased a new stake in shares of AutoZone during the 4th quarter valued at approximately $31,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, VP Dennis LeRiche sold 1,455 shares of the firm's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by company insiders.

AutoZone Stock Performance

AutoZone stock opened at $2,969.11 on Friday. AutoZone, Inc. has a fifty-two week low of $2,902.20 and a fifty-two week high of $4,388.11. The firm has a 50 day moving average price of $3,039.20 and a 200 day moving average price of $3,282.96. The company has a market capitalization of $48.49 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.47 and a beta of 0.34.

AutoZone declared that its board has initiated a stock buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

AZO has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on AutoZone from $4,345.00 to $4,096.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Piper Sandler set a $3,500.00 target price on AutoZone in a research report on Monday. Citigroup decreased their price target on AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Barclays lowered their price target on AutoZone from $3,900.00 to $3,637.00 and set an "overweight" rating for the company in a report on Tuesday, August 4th. Finally, Evercore reissued an "outperform" rating on shares of AutoZone in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $3,999.04.

AutoZone Profile

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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