Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 3,555 Shares of AutoZone, Inc. $AZO

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 40.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,394 shares of the company’s stock after acquiring an additional 3,555 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in AutoZone were worth $41,864,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AZO. Turning Point Benefit Group Inc. bought a new position in AutoZone in the third quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of AutoZone during the fourth quarter worth about $27,000. Transamerica Financial Advisors LLC grew its holdings in shares of AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares during the last quarter. MCF Advisors LLC increased its stake in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the period. Finally, Bard Associates Inc. bought a new position in AutoZone in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore reiterated an “outperform” rating on shares of AutoZone in a research report on Tuesday, May 26th. Truist Financial set a $3,700.00 price target on shares of AutoZone in a report on Wednesday, May 27th. Roth Mkm reduced their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a report on Monday, March 9th. Finally, Robert W. Baird decreased their price objective on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. One research 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction dated 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 sale, the director owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

AutoZone Stock Down 1.9%

AZO opened at $3,158.56 on Friday. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The company has a fifty day moving average of $3,257.59 and a 200-day moving average of $3,446.47. The stock has a market cap of $51.56 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 1.63 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $35.36 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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.