Forsta AP Fonden Purchases 100 Shares of AutoZone, Inc. $AZO

Forsta AP Fonden increased its position in AutoZone, Inc. (NYSE:AZO) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,400 shares of the company’s stock after purchasing an additional 100 shares during the quarter. Forsta AP Fonden’s holdings in AutoZone were worth $12,622,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AZO. AlphaCore Capital LLC bought a new position in shares of AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in shares of AutoZone in the first quarter valued at $27,000. Aspect Partners LLC raised its position in shares of AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the period. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone during the 2nd quarter worth about $33,000. Finally, NewSquare Capital LLC boosted its holdings in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AZO shares. The Goldman Sachs Group raised their price objective on shares of AutoZone from $3,894.00 to $4,090.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Jefferies Financial Group boosted their price target on AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Rothschild & Co Redburn increased their price objective on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company reduced their target price on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Finally, Roth Capital reaffirmed a “buy” rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,544.68.

Insiders Place Their Bets

In related news, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the sale, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,693 shares of company stock worth $23,259,891 over the last three months. Insiders own 2.60% of the company’s stock.

AutoZone Stock Up 1.0%

AZO opened at $3,791.94 on Thursday. The stock has a market capitalization of $63.07 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a twelve month low of $3,036.40 and a twelve month high of $4,388.11. The company has a 50-day simple moving average of $4,026.36 and a 200 day simple moving average of $3,887.96.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $51.58 earnings per share. Sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

AutoZone Company 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.