BI Asset Management Fondsmaeglerselskab A S Sells 803 Shares of AutoZone, Inc. $AZO

BI Asset Management Fondsmaeglerselskab A S lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 66.7% in the first quarter, Holdings Channel reports. The institutional investor owned 401 shares of the company’s stock after selling 803 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in AutoZone were worth $1,354,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compass Capital Corp MA ADV increased its holdings in shares of AutoZone by 3.7% in the 3rd quarter. Compass Capital Corp MA ADV now owns 85 shares of the company’s stock valued at $365,000 after acquiring an additional 3 shares during the period. KCM Investment Advisors LLC lifted its position in shares of AutoZone by 0.3% during the third quarter. KCM Investment Advisors LLC now owns 1,153 shares of the company’s stock valued at $4,947,000 after buying an additional 3 shares during the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of AutoZone by 3.2% in the 3rd quarter. Angeles Wealth Management LLC now owns 97 shares of the company’s stock valued at $416,000 after buying an additional 3 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of AutoZone by 0.3% in the 3rd quarter. Blair William & Co. IL now owns 1,108 shares of the company’s stock valued at $4,753,000 after buying an additional 3 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of AutoZone by 0.6% in the 3rd quarter. Quadrant Capital Group LLC now owns 518 shares of the company’s stock valued at $2,222,000 after buying an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AZO shares. Weiss Ratings lowered shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Mizuho reduced their price target on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. Oppenheimer reissued an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Finally, BNP Paribas Exane lowered their price objective on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,089.63 on Thursday. The company has a market cap of $50.45 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 1.55 and a beta of 0.35. The stock’s fifty day moving average price is $3,305.72 and its 200 day moving average price is $3,464.29. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $35.36 EPS. Research analysts expect that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its board has approved a stock repurchase plan on Tuesday, June 16th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 3% of its shares through open market purchases. Shares repurchase plans are often 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.