PensionDanmark Pensionsforsikringsaktieselskab Sells 1,459 Shares of AutoZone, Inc. $AZO

PensionDanmark Pensionsforsikringsaktieselskab lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 37.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,410 shares of the company’s stock after selling 1,459 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in AutoZone were worth $7,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Morgan Stanley raised its holdings in AutoZone by 17.8% in the 4th quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after purchasing an additional 74,555 shares during the period. Price T Rowe Associates Inc. MD lifted its position in AutoZone by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after purchasing an additional 7,390 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter valued at about $939,205,000. First Manhattan CO. LLC. increased its position in AutoZone by 2.7% in the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock worth $886,246,000 after buying an additional 6,765 shares in the last quarter. Finally, Northern Trust Corp increased its position in AutoZone by 1.2% in the third quarter. Northern Trust Corp now owns 189,789 shares of the company’s stock worth $814,240,000 after buying an additional 2,333 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. DA Davidson lowered their price objective on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings lowered shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 23rd. Roth Capital decreased their target price on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on shares of AutoZone in a report on Wednesday, May 27th. Finally, Morgan Stanley dropped their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average price target of $4,029.43.

AutoZone Trading Up 1.7%

Shares of AZO opened at $3,122.00 on Friday. The business’s 50 day moving average is $3,065.73 and its 200 day moving average is $3,378.36. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The company has a market capitalization of $50.98 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.59 and a beta of 0.33.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping 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 the consensus estimate of $4.86 billion. During the same period in the prior year, the company posted $35.36 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone declared that its Board of Directors has authorized a share buyback plan on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price 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 $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.