Skandinaviska Enskilda Banken AB publ Has $14.38 Million Stake in AutoZone, Inc. $AZO

Skandinaviska Enskilda Banken AB publ cut its stake in AutoZone, Inc. (NYSE:AZO) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,351 shares of the company’s stock after selling 337 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AutoZone were worth $14,377,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Avantax Advisory Services Inc. raised its stake in AutoZone by 8.3% in the 2nd quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock valued at $10,179,000 after acquiring an additional 210 shares during the period. Braun Stacey Associates Inc. raised its position 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 valued at $36,145,000 after purchasing an additional 613 shares during the period. Summit Global Investments lifted its stake in shares of AutoZone by 132.8% during the 3rd quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after buying an additional 182 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in AutoZone in the 3rd quarter worth approximately $678,000. Finally, Exchange Traded Concepts LLC grew its stake in AutoZone by 68.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock valued at $6,251,000 after buying an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the transaction, the director owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael A. George purchased 145 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were purchased at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by insiders.

AutoZone Trading Up 0.1%

Shares of NYSE AZO opened at $3,746.84 on Thursday. The business has a 50-day moving average of $3,551.57 and a 200-day moving average of $3,844.64. The firm has a market capitalization of $62.09 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 1.78 and a beta of 0.41. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AZO shares. Barclays set a $3,880.00 target price on AutoZone in a research report on Thursday, January 8th. Truist Financial cut their target price on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. UBS Group reiterated a “buy” rating and set a $4,555.00 price target on shares of AutoZone in a research report on Wednesday, February 4th. Gabelli restated a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. Finally, BMO Capital Markets reduced their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4,271.25.

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.