AutoZone, Inc. $AZO Stock Sold by Formuepleje A S

Formuepleje A S lessened its position in AutoZone, Inc. (NYSE:AZO) by 21.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,706 shares of the company’s stock after selling 2,149 shares during the period. AutoZone accounts for about 1.9% of Formuepleje A S’s portfolio, making the stock its 18th biggest holding. Formuepleje A S’s holdings in AutoZone were worth $21,808,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Benchmark Investment Advisors LLC acquired a new position in shares of AutoZone in the second quarter valued at approximately $713,000. CYBER HORNET ETFs LLC raised its holdings in AutoZone by 33,193.5% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 15,315 shares of the company’s stock valued at $48,946,000 after buying an additional 15,269 shares during the last quarter. Nykredit A S acquired a new stake in AutoZone during the 2nd quarter worth approximately $27,287,000. Bank of America Corp DE acquired a new stake in AutoZone during the 2nd quarter worth approximately $233,576,000. Finally, Engineers Gate Manager LP boosted its position in AutoZone by 923.1% during the 2nd quarter. Engineers Gate Manager LP now owns 1,238 shares of the company’s stock worth $3,957,000 after buying an additional 1,117 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares in the company, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO traded up $136.54 during mid-day trading on Thursday, reaching $3,048.16. 93,190 shares of the company were exchanged, compared to its average volume of 261,896. The business has a 50 day simple moving average of $2,937.76 and a two-hundred day simple moving average of $3,133.57. The stock has a market capitalization of $49.76 billion, a PE ratio of 19.96, a PEG ratio of 1.34 and a beta of 0.40. AutoZone, Inc. has a 52 week low of $2,730.65 and a 52 week high of $4,047.41.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating the consensus estimate of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same period in the prior year, the business posted $48.71 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. On average, analysts predict that AutoZone, Inc. will post 171.50 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Truist Financial dropped their price target on shares of AutoZone from $3,817.00 to $3,648.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Sanford C. Bernstein initiated coverage on shares of AutoZone in a report on Tuesday, September 29th. They set an “outperform” rating and a $3,698.00 price target on the stock. Guggenheim cut their price target on shares of AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Finally, Piper Sandler set a $3,500.00 price objective on shares of AutoZone in a research note on Monday, August 31st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,669.12.

About AutoZone

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.