Formuepleje A S Grows Stock Holdings in AutoZone, Inc. $AZO

Formuepleje A S lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 19.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 9,855 shares of the company’s stock after acquiring an additional 1,598 shares during the period. AutoZone accounts for about 2.5% of Formuepleje A S’s investment portfolio, making the stock its 17th largest holding. Formuepleje A S’s holdings in AutoZone were worth $31,496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. California State Teachers Retirement System increased its position in AutoZone by 320,651.9% during the second quarter. California State Teachers Retirement System now owns 79,677,980 shares of the company’s stock worth $254,646,043,000 after purchasing an additional 79,653,139 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of AutoZone during the 2nd quarter valued at $3,938,566,000. Norges Bank purchased a new stake in shares of AutoZone during the 4th quarter valued at $939,205,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of AutoZone in the 2nd quarter valued at about $572,885,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AutoZone by 11,577.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 141,066 shares of the company’s stock worth $450,838,000 after purchasing an additional 139,858 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Buying and Selling

In related news, VP Dennis LeRiche sold 1,455 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AZO opened at $2,981.99 on Monday. The company has a market capitalization of $48.70 billion, a P/E ratio of 20.50, a PEG ratio of 1.49 and a beta of 0.34. The company has a 50-day moving average of $3,036.29 and a 200-day moving average of $3,276.84. AutoZone, Inc. has a 1-year low of $2,902.20 and a 1-year high of $4,388.11.

AutoZone announced that its Board of Directors has authorized a share buyback plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

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 report on Thursday, July 23rd. Roth Capital dropped their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Citigroup reduced their target price on shares of AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Piper Sandler set a $3,500.00 price target on shares of AutoZone in a research report on Monday, August 31st. Finally, DA Davidson reduced their price objective on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3,999.04.

About AutoZone

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.