DnB Asset Management AS Has $9.51 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

DnB Asset Management AS cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,969 shares of the company’s stock after selling 49 shares during the quarter. DnB Asset Management AS’s holdings in AutoZone were worth $9,507,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Orion Portfolio Solutions LLC increased its holdings in AutoZone by 7.0% in the 4th quarter. Orion Portfolio Solutions LLC now owns 1,686 shares of the company’s stock worth $5,399,000 after purchasing an additional 111 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of AutoZone by 8.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,368 shares of the company’s stock worth $49,208,000 after purchasing an additional 1,187 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of AutoZone by 0.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 6,608 shares of the company’s stock valued at $21,159,000 after buying an additional 19 shares during the period. Norges Bank bought a new position in AutoZone in the 4th quarter valued at approximately $834,556,000. Finally, AssuredPartners Investment Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth approximately $701,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,769.72 on Friday. The firm has a market cap of $63.26 billion, a P/E ratio of 25.19, a PEG 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 $3,838.00. The business’s 50 day simple moving average is $3,483.80 and its two-hundred day simple moving average is $3,279.56.

AutoZone (NYSE:AZO) last announced 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 net margin of 14.18% and a negative return on equity of 53.89%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AutoZone news, CEO Philip B. Daniele sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the sale, the chief executive officer now directly owns 163 shares of the company’s stock, valued at approximately $619,401.63. The trade was a 92.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owns 2,924 shares in the company, valued at $10,555,640. This represents a 49.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,721 shares of company stock worth $24,609,331 in the last quarter. Insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Roth Capital set a $3,763.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. Guggenheim raised their target price on AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price target on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Wells Fargo & Company raised their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, Mizuho upped their target price on AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,683.36.

AutoZone 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.