Livforsakringsbolaget Skandia Omsesidigt Decreases Position in AutoZone, Inc. $AZO

Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 95.1% in the first quarter, HoldingsChannel.com reports. The firm owned 131 shares of the company’s stock after selling 2,540 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AutoZone were worth $442,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Second Line Capital LLC raised its holdings in AutoZone by 2.0% during the third quarter. Second Line Capital LLC now owns 153 shares of the company’s stock worth $656,000 after purchasing an additional 3 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of AutoZone by 2.1% in the 4th quarter. Brookstone Capital Management now owns 147 shares of the company’s stock valued at $499,000 after buying an additional 3 shares in the last quarter. Sigma Planning Corp grew its position in shares of AutoZone by 3.6% in the 4th quarter. Sigma Planning Corp now owns 86 shares of the company’s stock valued at $292,000 after buying an additional 3 shares during the last quarter. Midwest Trust Co grew its position in shares of AutoZone by 4.2% in the 4th quarter. Midwest Trust Co now owns 74 shares of the company’s stock valued at $251,000 after buying an additional 3 shares during the last quarter. Finally, Arrowroot Family Office LLC raised its stake in AutoZone by 5.4% during the 4th quarter. Arrowroot Family Office LLC now owns 59 shares of the company’s stock worth $200,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch purchased 165 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the acquisition, the director directly owned 1,219 shares in the company, valued at $3,641,153. This represents a 15.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.

AutoZone Price Performance

Shares of NYSE:AZO opened at $2,970.83 on Thursday. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11. The stock has a market cap of $48.50 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.54 and a beta of 0.33. The firm has a fifty day moving average price of $3,161.51 and a 200 day moving average price of $3,421.80.

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

AutoZone announced that its board has authorized a share repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently weighed in on AZO. BMO Capital Markets reduced their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Roth Capital dropped their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Morgan Stanley cut their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Jefferies Financial Group reduced their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. decreased their target price on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

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.