Union Bancaire Privee UBP SA Sells 5,028 Shares of AutoZone, Inc. $AZO

Union Bancaire Privee UBP SA lessened its position in shares of AutoZone, Inc. (NYSE:AZOFree Report) by 29.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,144 shares of the company’s stock after selling 5,028 shares during the period. AutoZone accounts for 0.6% of Union Bancaire Privee UBP SA’s holdings, making the stock its 29th biggest holding. Union Bancaire Privee UBP SA owned about 0.07% of AutoZone worth $38,111,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the 3rd quarter valued at $25,000. Torren Management LLC purchased a new position in shares of AutoZone during the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC grew its holdings in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after buying an additional 4 shares in the last quarter. MCF Advisors LLC raised its position 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 buying an additional 3 shares during the last quarter. Finally, Bard Associates Inc. purchased a new position in AutoZone during the 4th quarter worth $31,000. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Up 2.2%

Shares of NYSE:AZO opened at $3,127.52 on Friday. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The company’s fifty day moving average is $3,288.33 and its 200 day moving average is $3,456.61. The stock has a market cap of $51.07 billion, a PE ratio of 21.50, a PEG ratio of 1.55 and a beta of 0.35.

AutoZone (NYSE:AZOGet Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $35.36 EPS. Sell-side analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current year.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AZO. TD Cowen reaffirmed a “buy” rating and set a $3,700.00 price objective on shares of AutoZone in a research note on Thursday, June 4th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. The Goldman Sachs Group lowered their target price on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Finally, UBS Group set a $4,800.00 price target on shares of AutoZone in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

Check Out Our Latest Analysis on AutoZone

Insiders Place Their Bets

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This represents a 15.65% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

AutoZone Profile

(Free Report)

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.

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Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

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