Andra AP fonden Increases Investment in AutoZone, Inc.

During the fourth quarter, Andra AP fonden enhanced its stake in AutoZone, Inc. (NYSE:AZO) by 3.7%. This information was revealed in the company's recent filing with the Securities and Exchange Commission (SEC). Following an acquisition of 100 additional shares, the fund now holds a total of 2,800 shares of AutoZone's stock, which is presently valued at approximately $8,966,000.

Institutional Adjustments

Other institutional investors and hedge funds have also adjusted their positions in AutoZone recently. Among these, Edgestream Partners L.P. entered the market by purchasing a new stake valued at about $1,678,000 during the fourth quarter. Prescott Group Capital Management L.L.C. increased its holdings by 5.1%, now owning 1,261 shares worth around $4,038,000, after acquiring 61 more shares. Furthermore, Ashton Thomas Private Wealth LLC raised its stake by 8.5% to a total of 737 shares, which are valued at about $2,360,000, following an addition of 58 shares. Callan Family Office LLC made a significant move, boosting its holdings by 135.7%. They now possess 773 shares worth $2,475,000 after purchasing an additional 445 shares. Lastly, Inceptionr LLC also expanded its investment by 35.6%, holding 549 shares now valued at $1,758,000. Collectively, 92.74% of AutoZone’s stock is controlled by institutional investors.

Analyst Evaluations

Several research analysts have recently provided updates on AutoZone's stock. For instance, TD Cowen raised their price target from $3,450.00 to $3,800.00, assigning a "buy" rating. JPMorgan Chase & Co. increased their price target from $3,775.00 to $3,830.00 with an "overweight" rating. Likewise, UBS Group moved their target up from $3,875.00 to $4,025.00 and kept their "buy" recommendation. DA Davidson also reviewed the stock, adjusting their price objective from $3,350.00 to $3,500.00 while maintaining a "neutral" rating. Additionally, Barclays raised their target from $3,024.00 to $3,585.00, retaining an "overweight" rating. In total, one analyst has given a sell rating, five have rated it hold, fifteen have issued buy ratings, and four have provided strong buy ratings. Presently, the average rating is categorized as "Moderate Buy" with a price target average of $3,646.62.

Insider Activities

In related developments, Bailey L. Childress, the Senior Vice President, sold 160 shares of AutoZone on March 5th for an average price of $3,550.00, amounting to about $568,000. Following this transaction, Childress retains a modest holding of 50 shares valued at approximately $177,500. This transaction represented a significant decrease in their ownership by 76.19%. The details of this sale were documented in a filing with the Securities & Exchange Commission. Currently, insiders hold 2.10% of the company's stock.

AutoZone's Market Position

As of the last trading session, shares of AutoZone (NYSE:AZO) opened at $3,620.28. The company's market capitalization stands at $60.76 billion, with a PE ratio of 24.19 and a P/E/G ratio of 1.86. The stock's fifty-day moving average is $3,365.96, while the 200-day moving average is $3,229.85. AutoZone recorded a fifty-two week low of $2,728.97 and a high of $3,636.96.

On March 4th, AutoZone reported its earnings results, showing an EPS of $28.29, which was below analysts' expectations of $29.11 by $0.82. The company’s return on equity was noted at -53.89%, with a net margin of 14.18%. Revenue for the quarter was reported at $3.95 billion, slightly under the consensus estimate of $3.98 billion. Looking ahead, analysts expect AutoZone to post earnings of 152.94 per share for the current fiscal year.

Company Overview

AutoZone, Inc. is involved in the retail and distribution of automotive replacement parts and accessories across the United States, Mexico, and Brazil. It offers a diverse range of products for cars, SUVs, vans, and light trucks, including both new and remanufactured automotive hard parts, maintenance items, and various non-automotive products.

Investment, Stock, Market