Nordea cuts AutoZone stake by 19% amid mixed earnings and analyst downgrades.

Nordea Investment Management reduced its holdings in AutoZone by 19% in Q4, selling 9,530 shares and holding 40,562 shares worth $137 million. AutoZone recently reported quarterly earnings slightly above estimates but with lower revenue and a negative return on equity. Several analysts have lowered price targets on the stock, though most maintain a buy rating. Insider selling has also been notable, with key executives reducing their positions. Despite these factors, institutional investors still own over 92% of AutoZone shares, reflecting continued confidence in the company’s long-term prospects.