Skandinaviska Enskilda Banken AB publ Trims Stake in AutoZone, Inc. (NYSE:AZO)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,497 shares of the company’s stock after selling 169 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in AutoZone were worth $11,140,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in AutoZone during the 3rd quarter worth $47,000. Crews Bank & Trust purchased a new position in AutoZone during the 4th quarter worth $61,000. McIlrath & Eck LLC increased its holdings in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the period. Whipplewood Advisors LLC purchased a new position in AutoZone during the 4th quarter worth $67,000. Finally, Providence First Trust Co purchased a new position in AutoZone during the 4th quarter worth $80,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AZO has been the topic of several recent research reports. Raymond James reaffirmed a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, March 5th. Bank of America increased their target price on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a research report on Wednesday, March 5th. Roth Capital set a $3,763.00 target price on AutoZone in a research report on Wednesday, March 5th. Evercore ISI increased their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Wednesday, March 5th. Finally, Argus cut AutoZone from a “buy” rating to a “hold” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,651.91.

Insiders Place Their Bets

In other AutoZone news, SVP Bailey L. Childress sold 160 shares of AutoZone stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the transaction, the senior vice president now owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the transaction, the vice president now owns 417 shares of the company’s stock, valued at $1,501,200. The trade was a 79.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,871 shares of company stock valued at $6,720,811. 2.10% of the stock is owned by company insiders.

AutoZone Stock Performance

Shares of AZO opened at $3,553.69 on Friday. The stock has a 50-day moving average of $3,401.49 and a two-hundred day moving average of $3,243.69. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,704.43. The stock has a market cap of $59.64 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.86 and a beta of 0.71.

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

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.