APG Asset Management N.V. Has $69.76 Million Holdings in AutoZone, Inc. $AZO

APG Asset Management N.V. lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,765 shares of the company’s stock after selling 1,875 shares during the quarter. APG Asset Management N.V. owned 0.12% of AutoZone worth $69,764,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its stake in AutoZone by 2.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 16,107 shares of the company’s stock worth $61,412,000 after buying an additional 314 shares during the period. AlphaQuest LLC raised its stake in AutoZone by 150.0% during the 1st quarter. AlphaQuest LLC now owns 65 shares of the company’s stock worth $248,000 after buying an additional 39 shares during the period. Allstate Corp raised its stake in AutoZone by 19.4% during the 1st quarter. Allstate Corp now owns 609 shares of the company’s stock worth $2,322,000 after buying an additional 99 shares during the period. 1832 Asset Management L.P. raised its stake in AutoZone by 16.5% during the 1st quarter. 1832 Asset Management L.P. now owns 16,073 shares of the company’s stock worth $61,283,000 after buying an additional 2,280 shares during the period. Finally, Compound Planning Inc. raised its stake in AutoZone by 16.0% during the 1st quarter. Compound Planning Inc. now owns 210 shares of the company’s stock worth $801,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity

In related news, CFO Jamere Jackson sold 2,612 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the sale, the chief financial officer directly owned 427 shares in the company, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares of the company’s stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,862 shares of company stock worth $126,058,789. Insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.6%

NYSE:AZO opened at $4,104.35 on Friday. The firm has a market capitalization of $68.88 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 2.46 and a beta of 0.38. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,187.39. The stock’s 50 day moving average price is $3,809.57 and its two-hundred day moving average price is $3,690.97.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%.The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period last year, the firm earned $36.69 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AZO shares. Truist Financial set a $3,995.00 price target on AutoZone in a research note on Friday, May 23rd. UBS Group boosted their target price on AutoZone from $4,025.00 to $4,260.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. upped their price target on AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $4,000.00 price target (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $4,101.29.

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.