Freemont Management S.A. Has $2.57 Million Stake in AutoZone, Inc. $AZO

Freemont Management S.A. reduced its position in AutoZone, Inc. (NYSE:AZO) by 88.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 600 shares of the company’s stock after selling 4,600 shares during the quarter. AutoZone makes up about 1.3% of Freemont Management S.A.’s portfolio, making the stock its 21st largest position. Freemont Management S.A.’s holdings in AutoZone were worth $2,574,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Longbow Finance SA boosted its position in AutoZone by 46.0% during the third quarter. Longbow Finance SA now owns 3,470 shares of the company’s stock valued at $14,887,000 after acquiring an additional 1,094 shares during the last quarter. Assetmark Inc. boosted its position in shares of AutoZone by 1.4% during the 3rd quarter. Assetmark Inc. now owns 212 shares of the company’s stock valued at $908,000 after purchasing an additional 3 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of AutoZone by 34.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 42,520 shares of the company’s stock valued at $182,421,000 after purchasing an additional 10,801 shares in the last quarter. Illinois Municipal Retirement Fund grew its stake in AutoZone by 8.6% during the third quarter. Illinois Municipal Retirement Fund now owns 6,219 shares of the company’s stock worth $26,681,000 after purchasing an additional 494 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in AutoZone by 19.3% in the third quarter. Wedbush Securities Inc. now owns 192 shares of the company’s stock worth $824,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AZO opened at $3,790.01 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a 50 day moving average price of $3,538.36 and a two-hundred day moving average price of $3,845.29. The firm has a market capitalization of $62.80 billion, a P/E ratio of 26.43, a P/E/G ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $32.52 EPS. On average, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on AZO shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Gabelli restated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. Zacks Research upgraded shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. DA Davidson cut their price objective on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, TD Cowen decreased their target price on AutoZone from $4,900.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,271.25.

Insider Activity

In other news, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the acquisition, the director owned 962 shares in the company, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director owned 4,887 shares of the company’s stock, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by insiders.

About AutoZone

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.