Banco Bilbao Vizcaya Argentaria S.A. Raises Stock Position in AutoZone, Inc. $AZO

Banco Bilbao Vizcaya Argentaria S.A. grew its stake in AutoZone, Inc. (NYSE:AZO) by 6.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,966 shares of the company’s stock after purchasing an additional 306 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in AutoZone were worth $21,315,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of AZO. Laurel Wealth Advisors LLC raised its stake in AutoZone by 371,123.0% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after acquiring an additional 935,230 shares in the last quarter. Norges Bank acquired a new position in AutoZone in the second quarter valued at $981,202,000. Vontobel Holding Ltd. boosted its stake in AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after acquiring an additional 75,382 shares in the last quarter. Evelyn Partners Investment Management Services Ltd grew its holdings in shares of AutoZone by 1,185.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after purchasing an additional 59,653 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president directly owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Hannasch acquired 147 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the transaction, the director owned 962 shares in the company, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have sold 9,447 shares of company stock valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Down 1.6%

Shares of AZO stock opened at $3,557.90 on Monday. The stock’s 50-day moving average price is $3,649.70 and its 200 day moving average price is $3,799.52. The stock has a market capitalization of $58.95 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.82 and a beta of 0.41. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period last year, the firm earned $28.29 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on AZO. UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. Roth Mkm dropped their price target on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. JPMorgan Chase & Co. lifted their price target on AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. BMO Capital Markets reduced their price objective on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Finally, Wolfe Research downgraded AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $4,318.38.

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.