AutoZone, Inc. $AZO Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB reduced its position in AutoZone, Inc. (NYSE:AZO) by 36.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,092 shares of the company’s stock after selling 28,532 shares during the quarter. Nordea Investment Management AB owned about 0.30% of AutoZone worth $216,307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Avantax Advisory Services Inc. raised its holdings in shares of AutoZone by 8.3% in the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after buying an additional 210 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in shares of AutoZone by 7.8% in the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock worth $36,145,000 after acquiring an additional 613 shares during the period. Emerald Advisers LLC raised its holdings in shares of AutoZone by 60.0% during the second quarter. Emerald Advisers LLC now owns 224 shares of the company’s stock worth $832,000 after purchasing an additional 84 shares during the last quarter. Hager Investment Management Services LLC lifted its position in AutoZone by 70.9% during the second quarter. Hager Investment Management Services LLC now owns 470 shares of the company’s stock valued at $1,745,000 after purchasing an additional 195 shares during the period. Finally, Triasima Portfolio Management inc. lifted its position in AutoZone by 394.9% during the second quarter. Triasima Portfolio Management inc. now owns 391 shares of the company’s stock valued at $1,451,000 after purchasing an additional 312 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In other news, Director George R. Mrkonic, Jr. sold 97 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the sale, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 3,180 shares worth $12,465,312. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. Morgan Stanley lifted their price objective on AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Raymond James Financial dropped their target price on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a report on Wednesday, December 10th. Wolfe Research cut AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Robert W. Baird initiated coverage on AutoZone in a research report on Wednesday, December 3rd. They issued an “outperform” rating and a $4,500.00 price objective on the stock. Finally, Citigroup dropped their price objective on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,310.12.

AutoZone Trading Down 0.4%

Shares of AZO stock opened at $3,508.49 on Wednesday. The company has a market capitalization of $58.14 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.68 and a beta of 0.42. The business’s 50 day moving average is $3,613.52 and its two-hundred day moving average is $3,857.05. AutoZone, Inc. has a 12-month low of $3,162.00 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the firm earned $32.52 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.