Andra AP fonden Trims Holdings in AutoZone, Inc. (AZO)

Andra AP fonden trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,400 shares of the company’s stock after selling 700 shares during the quarter. Andra AP fonden’s holdings in AutoZone were worth $9,619,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of AutoZone by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 60,063 shares of the company’s stock worth $38,962,000 after acquiring an additional 1,111 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of AutoZone during the 1st quarter worth approximately $979,000. Allianz Asset Management GmbH boosted its position in shares of AutoZone by 150.0% during the 1st quarter. Allianz Asset Management GmbH now owns 11,820 shares of the company’s stock worth $7,667,000 after acquiring an additional 35,477 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in shares of AutoZone during the 1st quarter worth approximately $8,001,000. Finally, Guggenheim Capital LLC boosted its position in shares of AutoZone by 10.7% during the 1st quarter. Guggenheim Capital LLC now owns 50,654 shares of the company’s stock worth $32,859,000 after acquiring an additional 4,890 shares in the last quarter. Institutional investors own 94.56% of the company’s stock.

Several research firms recently issued reports on AZO. Morgan Stanley increased their price target on shares of AutoZone from $760.00 to $800.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Credit Suisse Group increased their price objective on shares of AutoZone from $790.00 to $810.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Zacks Investment Research raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $860.00 price objective for the company in a research note on Tuesday, August 28th. Wells Fargo & Co increased their price objective on shares of AutoZone from $800.00 to $850.00 and gave the company a “positive” rating in a research note on Thursday, September 13th. They noted that the move was a valuation call. Finally, Argus dropped their price objective on shares of AutoZone to $820.00 and set a “buy” rating for the company in a research note on Thursday, August 30th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $790.65.

In other news, VP Charles Pleas III sold 9,500 shares of the firm’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $759.85, for a total transaction of $7,218,575.00. Following the completion of the transaction, the vice president now owns 13,862 shares of the company’s stock, valued at $10,533,040.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rodney C. Halsell sold 5,387 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $751.21, for a total transaction of $4,046,768.27. The disclosure for this sale can be found here. Insiders have sold 60,487 shares of company stock valued at $46,667,608 in the last ninety days. Insiders own 2.80% of the company’s stock.

Shares of AZO stock traded up $8.44 during trading hours on Thursday, hitting $798.94. 288,471 shares of the company’s stock traded hands, compared to its average volume of 355,864. The company has a market capitalization of $19.96 billion, a P/E ratio of 15.87, a PEG ratio of 1.09 and a beta of 0.89. AutoZone, Inc. has a 12 month low of $588.56 and a 12 month high of $802.22.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 18th. The company reported $18.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $17.92 by $0.62. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.60 billion. AutoZone had a net margin of 11.92% and a negative return on equity of 99.70%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $15.27 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 58.43 earnings per share for the current year.

AutoZone declared that its board has initiated a stock buyback plan on Wednesday, September 26th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the company to reacquire up to 6.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

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AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories. It offers 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. The company's products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, thermostats, starters and alternators, and water pumps.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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