Skandinaviska Enskilda Banken AB publ Cuts Stake in AutoZone, Inc. $AZO

Skandinaviska Enskilda Banken AB publ lowered its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 9.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,351 shares of the company’s stock after selling 337 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AutoZone were worth $14,377,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. bought a new stake in shares of AutoZone in the 3rd quarter valued at about $26,000. Aspect Partners LLC lifted its position in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the last quarter. Global Trust Asset Management LLC lifted its position in AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares during the last quarter. Bank of Jackson Hole Trust purchased a new stake in shares of AutoZone during the second quarter valued at approximately $33,000. Finally, NewSquare Capital LLC grew its holdings in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In other news, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. The trade was a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George R. Mrkonic, Jr. sold 97 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total value of $324,173.03. Following the completion of the sale, the director owned 3,564 shares in the company, valued at $11,910,852.36. The trade was a 2.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,746.84 on Thursday. The firm has a market capitalization of $62.09 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.78 and a beta of 0.41. The stock has a 50 day moving average price of $3,551.57 and a 200-day moving average price of $3,844.64. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $32.52 earnings per share. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of several recent analyst reports. Oppenheimer lowered their price objective on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. BNP Paribas Exane lowered their price target on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. DA Davidson dropped their price objective on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Erste Group Bank cut AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group restated a “buy” rating and set a $4,400.00 target price on shares of AutoZone in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,271.25.

AutoZone Company Profile

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.