Swedbank AB Increases Holdings in AutoZone, Inc. $AZO

Key Points

• Swedbank AB increased its stake in AutoZone, Inc. by 2.3%, owning approximately 0.10% of the company, valued at $64.26 million as of its latest SEC filing.
• A significant portion of AutoZone's stock, 92.74%, is currently held by institutional investors, with several funds notably increasing their stakes in the company.
• AutoZone's stock has a market capitalization of $72.62 billion, with recent price targets from analysts ranging from $3,811 to $4,925, reflecting a generally positive outlook on the company's performance.

Swedbank AB increased its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,855 shares of the company's stock after buying an additional 375 shares during the quarter. Swedbank AB owned about 0.10% of AutoZone worth $64,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after buying an additional 14 shares during the period. NorthRock Partners LLC purchased a new stake in shares of AutoZone during the fourth quarter worth about $311,000. Nomura Holdings Inc. purchased a new stake in shares of AutoZone during the fourth quarter worth about $1,780,000. Man Group plc boosted its position in AutoZone by 291.9% in the fourth quarter. Man Group plc now owns 5,620 shares of the company's stock valued at $17,995,000 after buying an additional 4,186 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its position in AutoZone by 6.2% in the fourth quarter. Pathstone Holdings LLC now owns 3,994 shares of the company's stock valued at $12,789,000 after buying an additional 232 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

Shares of AZO opened at $4,327.37 on Friday. The stock has a 50-day simple moving average of $3,989.84 and a 200-day simple moving average of $3,773.46. The stock has a market capitalization of $72.62 billion, a PE ratio of 29.29, a PEG ratio of 2.30 and a beta of 0.41. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,388.11.

Wall Street Analyst Weigh In

AZO has been the topic of several recent research reports. Truist Financial set a $3,995.00 price objective on AutoZone in a research report on Friday, May 23rd. Guggenheim increased their target price on AutoZone from $3,850.00 to $4,100.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Mizuho increased their target price on AutoZone from $3,740.00 to $4,050.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. UBS Group increased their price objective on AutoZone from $4,260.00 to $4,925.00 and gave the company a "buy" rating in a research note on Thursday. Finally, The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research note on Friday, May 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $4,229.38.

Insider Activity

In other news, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $2,697,847.50. Following the completion of the sale, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by company insiders.

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.

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