Securian Asset Management Inc. Cuts Stake in AutoZone, Inc. $AZO

Securian Asset Management Inc. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 44.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 452 shares of the company’s stock after selling 364 shares during the period. Securian Asset Management Inc.’s holdings in AutoZone were worth $1,533,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. purchased a new stake in AutoZone during the 3rd quarter valued at approximately $26,000. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone during the 3rd quarter worth approximately $25,000. Global Trust Asset Management LLC raised its holdings in shares of AutoZone by 600.0% during the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after acquiring an additional 6 shares in the last quarter. Torren Management LLC bought a new position in shares of AutoZone during the 4th quarter valued at approximately $27,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at approximately $43,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AZO. Oppenheimer reiterated an “outperform” rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. UBS Group set a $4,800.00 target price on AutoZone in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a research report on Thursday, February 26th. The Goldman Sachs Group increased their target price on AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Finally, DA Davidson set a $4,300.00 target price on AutoZone in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,312.13.

Insider Transactions at AutoZone

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

AutoZone Stock Down 1.9%

Shares of AZO opened at $3,431.05 on Tuesday. The company has a market cap of $56.54 billion, a PE ratio of 24.04, a P/E/G ratio of 1.79 and a beta of 0.43. The business has a fifty day moving average of $3,522.39 and a 200 day moving average of $3,610.18. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

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, topping analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the company earned $28.29 earnings per share. As a group, research analysts anticipate that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

About AutoZone

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.