Varma Mutual Pension Insurance Co Buys 300 Shares of AutoZone, Inc. $AZO

Varma Mutual Pension Insurance Co boosted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 11.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,003 shares of the company’s stock after buying an additional 300 shares during the period. Varma Mutual Pension Insurance Co’s holdings in AutoZone were worth $12,884,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AZO. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone in the 3rd quarter worth about $26,000. Aspect Partners LLC raised its position in AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the period. Global Trust Asset Management LLC raised its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the period. Bank of Jackson Hole Trust bought a new stake in AutoZone in the second quarter worth about $33,000. Finally, NewSquare Capital LLC boosted its position in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after buying an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was acquired at an average cost of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the transaction, the director owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the transaction, the director directly owned 3,564 shares in the company, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have bought 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Performance

NYSE:AZO opened at $3,790.01 on Friday. The firm has a 50-day simple moving average of $3,538.36 and a 200-day simple moving average of $3,845.29. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The firm has a market cap of $62.80 billion, a P/E ratio of 26.43, a P/E/G ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $32.52 earnings per share. On average, research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AZO. The Goldman Sachs Group raised their price target on AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. TD Cowen decreased their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Morgan Stanley cut their price target on shares of AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,271.25.

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.