Pensionfund Sabic Grows Stake in AutoZone, Inc. (NYSE:AZO)

Pensionfund Sabic grew its position in AutoZone, Inc. (NYSE:AZO) by 51.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 590 shares of the company’s stock after buying an additional 200 shares during the quarter. Pensionfund Sabic’s holdings in AutoZone were worth $1,889,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AZO. Franklin Resources Inc. raised its holdings in shares of AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after purchasing an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after acquiring an additional 60,483 shares in the last quarter. Verde Capital Management purchased a new position in shares of AutoZone in the 3rd quarter valued at $1,137,000. Mizuho Securities USA LLC raised its position in shares of AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock worth $29,012,000 after acquiring an additional 7,879 shares in the last quarter. Finally, Asset Advisors Investment Management LLC boosted its position in AutoZone by 44.9% during the third quarter. Asset Advisors Investment Management LLC now owns 1,678 shares of the company’s stock valued at $5,286,000 after purchasing an additional 520 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE AZO traded up $46.61 during mid-day trading on Monday, reaching $3,315.39. 31,556 shares of the company’s stock were exchanged, compared to its average volume of 82,572. The company’s 50-day moving average is $3,187.85 and its 200-day moving average is $3,114.26. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,416.71. The firm has a market capitalization of $55.64 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.73 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $32.55 EPS. As a group, equities analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on AZO. Citigroup raised their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Roth Mkm restated a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research note on Wednesday, October 16th. BNP Paribas raised AutoZone to a “strong-buy” rating in a research report on Wednesday, September 25th. Mizuho boosted their target price on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Truist Financial raised their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,400.32.

Insider Activity

In related news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at $43,055,777.55. This represents a 48.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

AutoZone Company 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.