Pensionfund Sabic Makes New $1.29 Million Investment in AutoZone, Inc. $AZO

Pensionfund Sabic bought a new position in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 380 shares of the company’s stock, valued at approximately $1,289,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AZO. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in AutoZone by 6.6% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after purchasing an additional 306 shares during the period. Braun Stacey Associates Inc. lifted its position in AutoZone by 7.8% during the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after buying an additional 613 shares during the period. Summit Global Investments lifted its position in AutoZone by 132.8% during the third quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after buying an additional 182 shares during the period. Numerai GP LLC boosted its holdings in shares of AutoZone by 1,199.3% during the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after buying an additional 1,619 shares in the last quarter. Finally, Foundations Investment Advisors LLC bought a new stake in shares of AutoZone during the 3rd quarter valued at $678,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 0.2%

Shares of AZO opened at $3,346.50 on Wednesday. The business’s fifty day simple moving average is $3,650.25 and its two-hundred day simple moving average is $3,758.71. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The company has a market cap of $55.15 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 1.71 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the company posted $28.29 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling at AutoZone

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the stock in a transaction that occurred on 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 transaction, the director owned 3,564 shares in the company, valued at $11,910,852.36. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director owned 4,887 shares in the company, valued at $16,102,665. This represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,447 shares of company stock worth $34,179,923. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZO. Jefferies Financial Group reiterated a “buy” rating and issued a $4,400.00 price target on shares of AutoZone in a research note on Wednesday, December 10th. Wells Fargo & Company cut their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Mizuho raised their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Barclays lifted their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th. Finally, Evercore boosted their price target on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $4,312.13.

About AutoZone

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.