Livforsakringsbolaget Skandia Omsesidigt Trims Stock Position in AutoZone, Inc. (NYSE:AZO)

Livforsakringsbolaget Skandia Omsesidigt lessened its stake in shares of AutoZone, Inc. (NYSE:AZO) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,261 shares of the company’s stock after selling 120 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in AutoZone were worth $10,442,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in AutoZone by 6.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,083 shares of the company’s stock worth $6,670,000 after buying an additional 119 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in AutoZone during the 4th quarter worth $471,629,000. Elm3 Financial Group LLC purchased a new position in AutoZone during the 4th quarter worth $448,000. Tyche Wealth Partners LLC raised its position in AutoZone by 9.6% during the 4th quarter. Tyche Wealth Partners LLC now owns 206 shares of the company’s stock worth $661,000 after buying an additional 18 shares during the last quarter. Finally, Tectonic Advisors LLC raised its position in AutoZone by 3.1% during the 4th quarter. Tectonic Advisors LLC now owns 1,917 shares of the company’s stock worth $6,138,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

NYSE AZO opened at $3,466.41 on Friday. AutoZone, Inc. has a one year low of $2,672.31 and a one year high of $3,484.42. The company’s 50 day moving average price is $3,281.77 and its 200 day moving average price is $3,176.72. The firm has a market capitalization of $58.17 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.85 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business posted $32.55 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on AZO shares. Roth Mkm restated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Evercore ISI upped their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. TD Cowen upped their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Barclays increased their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Wells Fargo & Company increased their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.