Danica Pension Livsforsikringsaktieselskab Sells 1,723 Shares of AutoZone, Inc. $AZO

Danica Pension Livsforsikringsaktieselskab trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 15.8% in the first quarter, according to its most recent 13F filing with the Securities and 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’s holdings in AutoZone were worth $31,052,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley lifted its position in shares of AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of AutoZone by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock worth $1,312,654,000 after acquiring an additional 7,390 shares during the period. Norges Bank purchased a new position in shares of AutoZone in the fourth quarter valued at $939,205,000. PineStone Asset Management Inc. grew its position in shares of AutoZone by 1.5% in the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after purchasing an additional 3,868 shares in the last quarter. Finally, First Manhattan CO. LLC. raised its stake in shares of AutoZone by 2.7% during the 4th quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after purchasing an additional 6,765 shares during the period. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of recent research reports. BMO Capital Markets dropped their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings raised AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Roth Capital decreased their price target on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Finally, 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 note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

Insider Activity at AutoZone

In related news, Director Brian Hannasch acquired 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

NYSE:AZO opened at $3,009.58 on Wednesday. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 20.69, a P/E/G ratio of 1.52 and a beta of 0.33. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The stock has a fifty day moving average of $3,125.74 and a 200 day moving average of $3,410.91.

AutoZone (NYSE:AZO) last released its quarterly earnings results 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 firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the firm posted $35.36 EPS. The company’s revenue was up 8.4% compared to the same quarter last year. Equities analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a share buyback program on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.