Swedbank AB Has $52.34 Million Stake in AutoZone, Inc. (NYSE:AZO)

Swedbank AB raised its stake in AutoZone, Inc. (NYSE:AZO) by 0.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,617 shares of the company’s stock after purchasing an additional 93 shares during the period. Swedbank AB owned 0.10% of AutoZone worth $52,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Creative Planning increased its position in shares of AutoZone by 4.0% during the third quarter. Creative Planning now owns 2,519 shares of the company’s stock worth $7,933,000 after acquiring an additional 97 shares in the last quarter. CX Institutional grew its position in AutoZone by 3.7% in the 3rd quarter. CX Institutional now owns 198 shares of the company’s stock worth $624,000 after purchasing an additional 7 shares in the last quarter. Novare Capital Management LLC grew its position in AutoZone by 4.3% in the 3rd quarter. Novare Capital Management LLC now owns 294 shares of the company’s stock worth $926,000 after purchasing an additional 12 shares in the last quarter. Crestmont Private Wealth LLC grew its position in AutoZone by 8.1% in the 3rd quarter. Crestmont Private Wealth LLC now owns 133 shares of the company’s stock worth $419,000 after purchasing an additional 10 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its position in AutoZone by 208.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 962 shares of the company’s stock worth $3,030,000 after purchasing an additional 650 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,100.00 on Wednesday. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The stock has a market cap of $52.96 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The firm has a 50-day moving average of $3,131.05 and a 200 day moving average of $3,006.48.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the prior year, the firm earned $46.46 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Research analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP John Scott Murphy sold 1,580 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on AZO shares. Truist Financial boosted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer restated a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research note on Wednesday, June 26th. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Finally, Evercore ISI upped their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,175.75.

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.