Swedbank AB Grows Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Swedbank AB increased its AutoZone stake by 6.9% in the fourth quarter, adding 2,152 shares to bring its total to 33,479 shares worth about $113.5 million.
• Institutional ownership in AutoZone remains very high, with hedge funds and other institutions controlling 92.74% of the stock. Several other firms also boosted their positions, including Northwestern Mutual Wealth Management and Mitsubishi UFJ Asset Management.
• AutoZone reported quarterly EPS of $27.63, slightly ahead of estimates, while revenue rose 8.2% year over year to $4.27 billion. Analysts remain constructive overall, with a consensus rating of Moderate Buy and an average price target of about $4,290.91.

Swedbank AB increased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,479 shares of the company's stock after buying an additional 2,152 shares during the quarter. Swedbank AB owned about 0.20% of AutoZone worth $113,544,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AZO. Northwestern Mutual Wealth Management Co. raised its position in AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company's stock valued at $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock valued at $584,730,000 after purchasing an additional 50,071 shares during the period. AQR Capital Management LLC raised its position in AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company's stock valued at $432,059,000 after purchasing an additional 45,212 shares during the period. Victory Capital Management Inc. raised its position in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company's stock valued at $222,247,000 after purchasing an additional 41,467 shares during the period. Finally, Vanguard Group Inc. raised its position in AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after purchasing an additional 26,544 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of AZO opened at $3,401.96 on Friday. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The stock has a market cap of $56.06 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.74 and a beta of 0.43. The firm has a fifty day moving average price of $3,461.57 and a 200 day moving average price of $3,585.48.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts' consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion during the quarter, compared to analysts' expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $28.29 earnings per share. As a group, equities analysts expect that AutoZone, Inc. will post 149.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the subject of several research reports. DA Davidson set a $4,300.00 price target on shares of AutoZone in a research note on Thursday, March 5th. BMO Capital Markets dropped their price target on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating for the company in a research note on Wednesday, March 4th. Morgan Stanley boosted their price target on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. Argus upgraded shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price target for the company in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of AutoZone from $4,100.00 to $4,300.00 and gave the stock an "overweight" rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $4,290.91.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the business's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company's stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

AutoZone Company 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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