Handelsbanken Fonder AB Decreases Position in AutoZone, Inc. (NYSE:AZO)

Handelsbanken Fonder AB reduced its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,091 shares of the company's stock after selling 180 shares during the period. Handelsbanken Fonder AB owned 0.05% of AutoZone worth $29,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AZO. Ieq Capital LLC boosted its position in shares of AutoZone by 41.7% during the 4th quarter. Ieq Capital LLC now owns 1,343 shares of the company's stock valued at $4,301,000 after acquiring an additional 395 shares during the last quarter. Freedom Day Solutions LLC raised its stake in AutoZone by 11.0% during the fourth quarter. Freedom Day Solutions LLC now owns 925 shares of the company's stock valued at $2,962,000 after purchasing an additional 92 shares in the last quarter. Bryn Mawr Capital Management LLC bought a new position in AutoZone during the fourth quarter valued at $42,737,000. Global Retirement Partners LLC grew its stake in shares of AutoZone by 23.1% in the 4th quarter. Global Retirement Partners LLC now owns 48 shares of the company's stock worth $154,000 after buying an additional 9 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of AutoZone by 138.1% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 1,205 shares of the company's stock worth $3,858,000 after buying an additional 699 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on AZO. Barclays increased their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a report on Thursday, January 9th. Guggenheim raised their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Argus lifted their target price on AutoZone from $3,560.00 to $3,678.00 and gave the stock a "buy" rating in a report on Thursday, January 2nd. BMO Capital Markets initiated coverage on AutoZone in a report on Friday, December 13th. They set an "outperform" rating and a $3,700.00 price target on the stock. Finally, Citigroup lifted their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $3,429.84.

AutoZone Stock Down 1.2 %

NYSE:AZO traded down $40.52 during mid-day trading on Friday, reaching $3,366.15. The company's stock had a trading volume of 87,526 shares, compared to its average volume of 102,024. AutoZone, Inc. has a 1 year low of $2,708.09 and a 1 year high of $3,484.42. The stock has a fifty day moving average of $3,321.68 and a 200-day moving average of $3,204.55. The firm has a market capitalization of $56.49 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $32.55 EPS. On average, analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.