AutoZone, Inc. (NYSE:AZO) Shares Acquired by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in AutoZone, Inc. by 2.9% in the first quarter, bringing its total shares to 3,599, valued at approximately $13.72 million.
• Recent insider trades reveal substantial stock sales, including CFO Jamere Jackson's sale of 2,612 shares for nearly $9.74 million, indicating an 85.95% reduction in his ownership.
• AutoZone reported a quarterly earnings per share of $35.36, missing analyst expectations, but achieved revenues of $4.46 billion, reflecting a 5.4% year-over-year increase.

Skandinaviska Enskilda Banken AB publ increased its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 2.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,599 shares of the company's stock after buying an additional 102 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in AutoZone were worth $13,722,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after purchasing an additional 14 shares during the period. LPL Financial LLC raised its position in AutoZone by 18.9% in the fourth quarter. LPL Financial LLC now owns 11,869 shares of the company's stock valued at $38,004,000 after purchasing an additional 1,886 shares during the period. WINTON GROUP Ltd purchased a new stake in AutoZone in the fourth quarter valued at $410,000. Nomura Asset Management Co. Ltd. raised its position in AutoZone by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,608 shares of the company's stock valued at $21,159,000 after purchasing an additional 19 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in AutoZone by 8.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 15,368 shares of the company's stock valued at $49,208,000 after purchasing an additional 1,187 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 price objective (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Mizuho lifted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lifted their price objective on AutoZone from $3,830.00 to $4,350.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $4,087.00.

Insiders Place Their Bets

In other news, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the transaction, the chief financial officer directly owned 427 shares of the company's stock, valued at approximately $1,591,877.35. This represents a 85.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president directly owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,862 shares of company stock valued at $126,058,789. 2.10% of the stock is owned by insiders.

AutoZone Trading Up 0.1%

AZO traded up $4.69 on Wednesday, hitting $3,878.54. 39,080 shares of the company were exchanged, compared to its average volume of 132,746. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $3,919.50. The company has a market cap of $65.08 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 2.27 and a beta of 0.39. The firm has a 50-day moving average price of $3,709.54 and a two-hundred day moving average price of $3,605.41.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $36.69 earnings per share. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone Company 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.