Varma Mutual Pension Insurance Co Purchases 200 Shares of AutoZone, Inc. $AZO

Varma Mutual Pension Insurance Co lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,203 shares of the company’s stock after purchasing an additional 200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in AutoZone were worth $10,863,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in AZO. AQR Capital Management LLC grew its holdings in shares of AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after acquiring an additional 41,467 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in AutoZone in the third quarter valued at approximately $149,656,000. Vanguard Group Inc. boosted its holdings in AutoZone by 1.5% in the third quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after acquiring an additional 26,544 shares during the last quarter. Finally, Capital World Investors boosted its holdings in AutoZone by 1,298.2% in the third quarter. Capital World Investors now owns 24,818 shares of the company’s stock valued at $106,475,000 after acquiring an additional 23,043 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

Shares of AZO opened at $3,539.07 on Wednesday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The business’s 50 day moving average price is $3,540.48 and its two-hundred day moving average price is $3,624.16. The firm has a market cap of $58.32 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.78 and a beta of 0.43.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the previous year, the firm earned $28.29 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Research analysts predict that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

Insider Buying and Selling at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by insiders.

Analyst Ratings Changes

AZO has been the topic of several analyst reports. Roth Mkm reduced their target price on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a report on Monday, March 9th. UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. Mizuho boosted their price target on AutoZone from $3,550.00 to $3,600.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, Robert W. Baird lowered AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price target on the stock. in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,312.13.

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.