Danica Pension Livsforsikringsaktieselskab Makes New $25.45 Million Investment in AutoZone, Inc. $AZO

Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 7,963 shares of the company’s stock, valued at approximately $25,449,000.

A number of other large investors have also made changes to their positions in the stock. Turning Point Benefit Group Inc. bought a new stake in shares of AutoZone in the third quarter valued at about $25,000. Torren Management LLC bought a new position in AutoZone during the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC increased its stake in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after acquiring an additional 4 shares during the period. MCF Advisors LLC raised its holdings in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in AutoZone in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other news, VP Dennis W. Leriche sold 1,455 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This represents a 76.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

AutoZone Price Performance

Shares of AZO stock opened at $3,077.21 on Wednesday. The stock’s fifty day simple moving average is $3,061.14 and its 200 day simple moving average is $3,344.23. The firm has a market cap of $50.25 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 1.54 and a beta of 0.33. AutoZone, Inc. has a one year low of $2,902.20 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. The business’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $35.36 earnings per share. On average, research analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its board has authorized a stock buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have commented on the company. The Goldman Sachs Group reduced their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Weiss Ratings cut AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. Roth Capital lowered their price target on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. DA Davidson dropped their price objective on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Finally, Robert W. Baird decreased their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4,029.43.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.