Danica Pension Livsforsikringsaktieselskab Has $31.05 Million Stake in AutoZone, Inc. $AZO

Danica Pension Livsforsikringsaktieselskab reduced its position in AutoZone, Inc. (NYSE:AZO) by 15.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,193 shares of the company’s stock after selling 1,723 shares during the period. Danica Pension Livsforsikringsaktieselskab owned approximately 0.06% of AutoZone worth $31,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AZO. Brighton Jones LLC lifted its stake in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in AutoZone during the 2nd quarter valued at about $356,000. Guggenheim Capital LLC boosted its stake in AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after purchasing an additional 9 shares during the last quarter. NewEdge Advisors LLC grew its holdings in AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after buying an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after acquiring an additional 4,039 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on AZO. JPMorgan Chase & Co. reduced their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. Guggenheim reduced their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Mizuho dropped their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings upgraded AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Finally, Jefferies Financial Group cut their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Stock Up 0.5%

Shares of AZO stock opened at $3,009.58 on Wednesday. The firm has a market cap of $49.13 billion, a P/E ratio of 20.69, a PEG ratio of 1.52 and a beta of 0.33. The company has a 50 day moving average of $3,125.74 and a 200-day moving average of $3,410.91. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11.

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

AutoZone declared that its Board of Directors has authorized a share repurchase program on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to buy up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

AutoZone Company 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.