5,849 Shares in AutoZone, Inc. (NYSE:AZO) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,849 shares of the company’s stock, valued at approximately $18,728,000.

Other hedge funds have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new position in AutoZone during the fourth quarter worth about $32,000. Harbour Investments Inc. grew its holdings in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after acquiring an additional 3 shares during the period. Crews Bank & Trust acquired a new position in AutoZone during the fourth quarter worth about $61,000. McIlrath & Eck LLC increased its stake in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in AutoZone in the 4th quarter worth about $67,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,605.88 on Monday. The firm has a market cap of $60.51 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,704.43. The stock has a 50-day simple moving average of $3,433.28 and a 200-day simple moving average of $3,259.40.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.98 billion. As a group, equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AZO shares. TD Cowen lifted their price target on 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 lifted their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Citigroup lifted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Morgan Stanley lifted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, UBS Group lifted their price target on AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $3,683.36.

Insider Activity at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 2,850 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the transaction, the vice president now directly owns 2,924 shares in the company, valued at $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,721 shares of company stock valued at $17,009,311. Corporate insiders own 2.10% of the company’s stock.

About AutoZone

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.