Swedbank AB Increases Position in AutoZone, Inc. (NYSE:AZO)

Swedbank AB grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,617 shares of the company’s stock after purchasing an additional 93 shares during the period. Swedbank AB owned approximately 0.10% of AutoZone worth $52,344,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in shares of AutoZone in the third quarter worth $36,000. Meeder Asset Management Inc. lifted its stake in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the period. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone in the third quarter worth approximately $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone in the third quarter worth approximately $47,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of AutoZone during the second quarter valued at approximately $50,000. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Finally, Wedbush reissued an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Performance

AZO stock opened at $3,099.38 on Monday. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The firm has a market cap of $52.39 billion, a PE ratio of 20.70, a PEG ratio of 1.55 and a beta of 0.71. The firm’s 50 day moving average price is $3,111.05 and its 200-day moving average price is $3,029.75.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. During the same quarter in the prior year, the firm earned $46.46 EPS. AutoZone’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

Insider Activity at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,880 shares of company stock worth $46,225,660. Company insiders own 2.10% of the company’s stock.

AutoZone 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.