AutoZone, Inc. $AZO Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 20.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 3,931 shares of the company’s stock after acquiring an additional 670 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AutoZone were worth $14,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC acquired a new position in shares of AutoZone during the first quarter worth approximately $27,000. Saudi Central Bank acquired a new position in AutoZone during the first quarter worth about $27,000. Financial Network Wealth Advisors LLC raised its position in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after acquiring an additional 4 shares in the last quarter. Cornerstone Planning Group LLC acquired a new stake in AutoZone in the 1st quarter valued at about $44,000. Finally, Clearstead Trust LLC bought a new position in shares of AutoZone during the 1st quarter valued at about $46,000. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the transaction, the vice president directly owned 2,925 shares of the company’s stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.10% of the company’s stock.

AutoZone Trading Down 2.5%

AutoZone stock opened at $4,125.51 on Friday. AutoZone, Inc. has a 1 year low of $2,898.57 and a 1 year high of $4,388.11. The firm has a market capitalization of $69.23 billion, a P/E ratio of 27.92, a PEG ratio of 2.22 and a beta of 0.41. The business has a 50-day moving average of $4,025.68 and a 200-day moving average of $3,794.14.

Wall Street Analyst Weigh In

AZO has been the topic of a number of analyst reports. Wolfe Research initiated coverage on AutoZone in a research note on Thursday. They issued an “outperform” rating and a $4,741.00 price target on the stock. Truist Financial lifted their price target on AutoZone from $4,038.00 to $4,504.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Mizuho upped their price objective on shares of AutoZone from $3,740.00 to $4,050.00 and gave the stock an “outperform” rating in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. increased their target price on AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $4,368.95.

AutoZone 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.