Forsta AP Fonden Has $12.62 Million Stake in AutoZone, Inc. $AZO

Forsta AP Fonden boosted its position in AutoZone, Inc. (NYSE:AZO) by 3.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,400 shares of the company’s stock after purchasing an additional 100 shares during the period. Forsta AP Fonden’s holdings in AutoZone were worth $12,622,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AZO. Brighton Jones LLC boosted its position in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the period. Signaturefd LLC lifted its holdings in shares of AutoZone by 3.1% during the first quarter. Signaturefd LLC now owns 394 shares of the company’s stock worth $1,503,000 after purchasing an additional 12 shares during the period. Sigma Planning Corp grew its stake in shares of AutoZone by 25.8% in the first quarter. Sigma Planning Corp now owns 83 shares of the company’s stock worth $316,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC increased its holdings in AutoZone by 26.3% in the first quarter. Larson Financial Group LLC now owns 72 shares of the company’s stock valued at $275,000 after purchasing an additional 15 shares during the period. Finally, Bridgewater Advisors Inc. acquired a new stake in AutoZone in the first quarter valued at $822,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Up 1.0%

Shares of NYSE:AZO opened at $3,791.94 on Thursday. AutoZone, Inc. has a twelve month low of $3,036.40 and a twelve month high of $4,388.11. The stock’s 50 day moving average is $4,026.36 and its 200-day moving average is $3,887.96. The firm has a market capitalization of $63.07 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the firm posted $51.58 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AZO. TD Cowen upped their price target on AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Barclays increased their target price on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Roth Capital restated a “buy” rating and issued a $4,750.00 price target (down previously from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. Guggenheim increased their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Gabelli reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $4,544.68.

Insider Transactions at AutoZone

In related news, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the sale, the chief executive officer owned 55 shares in the company, valued at $221,148.40. This represents a 97.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,693 shares of company stock valued at $23,259,891 over the last three months. Corporate insiders own 2.60% of the company’s stock.

About AutoZone

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.