Freemont Management S.A. Sells 200 Shares of AutoZone, Inc. $AZO

Freemont Management S.A. decreased its holdings in AutoZone, Inc. (NYSE:AZOFree Report) by 11.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,600 shares of the company’s stock after selling 200 shares during the quarter. Freemont Management S.A.’s holdings in AutoZone were worth $5,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone during the 3rd quarter valued at about $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 raised its holdings in shares of 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 purchasing an additional 4 shares during the last quarter. MCF Advisors LLC lifted its position in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares during the period. Finally, Bard Associates Inc. bought a new position in AutoZone during the fourth quarter valued at approximately $31,000. Institutional investors own 92.74% of the company’s stock.

Insider Activity

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. BMO Capital Markets cut their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. DA Davidson lowered their price target on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Guggenheim dropped their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley cut their price objective on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, Weiss Ratings upgraded AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. One equities research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Read Our Latest Analysis on AutoZone

AutoZone Trading Down 0.5%

Shares of NYSE AZO opened at $3,046.69 on Friday. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11. The firm has a market capitalization of $49.74 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.55 and a beta of 0.33. The firm has a 50 day moving average of $3,142.61 and a 200 day moving average of $3,416.46.

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

AutoZone declared that its board has approved a stock repurchase plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

AutoZone Company 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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