KLP Kapitalforvaltning AS Buys Shares of 5,849 AutoZone, Inc. (NYSE:AZO)

KLP Kapitalforvaltning AS bought a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to the company in its most recent 13F filing 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 also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake in shares of AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company's stock valued at $1,326,545,000 after buying an additional 7,365 shares in the last quarter. Proficio Capital Partners LLC grew its position in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock worth $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. PineStone Asset Management Inc. increased its stake in shares of AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company's stock worth $683,867,000 after purchasing an additional 13,771 shares during the last quarter. Marshfield Associates raised its holdings in shares of AutoZone by 0.5% during the 3rd 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. Finally, Baillie Gifford & Co. raised its holdings in shares of AutoZone by 35.6% during the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company's stock valued at $522,211,000 after purchasing an additional 42,776 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research firms have commented on AZO. TD Cowen increased their target price 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. Truist Financial increased their price target on AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Mizuho raised their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an "outperform" rating in a research note on Wednesday, March 5th. Roth Capital set a $3,763.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Finally, Guggenheim raised their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a "buy" rating in a research report 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.com, AutoZone currently has an average rating of "Moderate Buy" and an average price target of $3,683.36.

Insider Activity

In other news, SVP Bailey L. Childress sold 160 shares of the firm's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This trade represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dennis W. Leriche sold 1,575 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $3,600.00, for a total transaction of $5,670,000.00. Following the sale, the vice president now directly owns 417 shares in the company, valued at $1,501,200. This trade represents a 79.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,721 shares of company stock worth $17,009,311. Corporate insiders own 2.10% of the company's stock.

AutoZone Stock Performance

NYSE AZO traded up $17.67 during trading on Tuesday, reaching $3,675.49. 135,248 shares of the company traded hands, compared to its average volume of 126,257. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,704.43. The stock's 50 day moving average price is $3,441.73 and its two-hundred day moving average price is $3,263.12. The company has a market cap of $61.68 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 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 analyst estimates of $3.98 billion. Equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.