Swedbank AB Grows Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Swedbank AB raised its stake in AutoZone, Inc. (NYSE:AZO) by 0.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,617 shares of the company’s stock after buying an additional 93 shares during the period. Swedbank AB’s holdings in AutoZone were worth $52,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Kingsview Wealth Management LLC increased its position in AutoZone by 5.5% during the third quarter. Kingsview Wealth Management LLC now owns 154 shares of the company’s stock worth $484,000 after buying an additional 8 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of AutoZone by 21.9% during the third quarter. Cerity Partners LLC now owns 3,292 shares of the company’s stock valued at $10,371,000 after acquiring an additional 592 shares during the last quarter. Waddell & Associates LLC boosted its stake in shares of AutoZone by 11.7% during the third quarter. Waddell & Associates LLC now owns 763 shares of the company’s stock valued at $2,404,000 after acquiring an additional 80 shares during the last quarter. Camden National Bank purchased a new stake in AutoZone during the 3rd quarter worth about $321,000. Finally, Meridian Wealth Management LLC acquired a new position in AutoZone in the 3rd quarter valued at about $447,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AZO shares. Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho increased their price target on AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. UBS Group raised their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Morgan Stanley upped their target price on AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a research note on Wednesday, September 25th. Finally, Evercore ISI raised their price target on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price of $3,202.71.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 over the last three months. Company insiders own 2.10% of the company’s stock.

AutoZone Trading Up 1.0 %

Shares of AZO stock opened at $3,099.38 on Monday. The firm has a market capitalization of $52.39 billion, a P/E ratio of 20.70, a price-to-earnings-growth ratio of 1.55 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,510.00 and a 1 year high of $3,256.37. The firm’s fifty day simple moving average is $3,111.05 and its 200 day simple moving average is $3,029.75.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share 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 company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period in the previous year, the firm posted $46.46 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

AutoZone Company 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.