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

DnB Asset Management AS lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Several other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in AutoZone by 1.8% during the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in shares of AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. Norges Bank bought a new stake in AutoZone during the fourth quarter worth about $834,556,000. PineStone Asset Management Inc. boosted its position in AutoZone by 6.9% during the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock valued at $683,867,000 after purchasing an additional 13,771 shares during the last quarter. Finally, Marshfield Associates grew its stake in AutoZone by 0.5% in the third quarter. Marshfield Associates now owns 169,586 shares of the company’s stock valued at $534,204,000 after purchasing an additional 796 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the sale, 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 legal filing with the SEC, which is accessible through this link. Also, CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total transaction of $7,600,020.00. Following the completion of the transaction, the chief executive officer now directly owns 163 shares in the company, valued at $619,401.63. This trade represents a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,721 shares of company stock valued at $24,609,331. 2.10% of the stock is owned by corporate insiders.

AutoZone Stock Down 1.5 %

NYSE AZO opened at $3,769.72 on Friday. The firm has a 50-day moving average price of $3,483.80 and a two-hundred day moving average price of $3,279.56. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,838.00. The company has a market capitalization of $63.26 billion, a P/E ratio of 25.19, 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 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 company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of analyst reports. Bank of America upped their price objective on AutoZone from $3,600.00 to $3,700.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. TD Cowen upped their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Guggenheim lifted their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Argus cut shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, DA Davidson upgraded AutoZone from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $3,500.00 to $4,192.00 in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $3,683.36.

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.