AutoZone, Inc. $AZO Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,216 shares of the company’s stock after selling 1,007 shares during the quarter. Assenagon Asset Management S.A.’s holdings in AutoZone were worth $61,530,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Turning Point Benefit Group Inc. acquired a new stake in AutoZone in the third quarter valued at approximately $25,000. Torren Management LLC purchased a new stake in shares of AutoZone during the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC lifted its position in shares of 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 purchasing an additional 4 shares in the last quarter. MCF Advisors LLC lifted its position in shares of AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. acquired a new position in shares of AutoZone during the fourth quarter worth $31,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AZO. UBS Group set a $4,800.00 price target on shares of AutoZone in a report on Tuesday, March 3rd. Morgan Stanley decreased their price objective on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group lowered their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. BNP Paribas Exane dropped their target price on AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Finally, Mizuho cut their price target on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Price Performance

NYSE AZO opened at $3,059.55 on Friday. The company has a market capitalization of $49.96 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.35. AutoZone, Inc. has a 12 month low of $2,928.11 and a 12 month high of $4,388.11. The company’s fifty day moving average price is $3,296.67 and its two-hundred day moving average price is $3,458.93.

AutoZone (NYSE:AZO) last released its 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 company had revenue of $4.84 billion during 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 revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $35.36 EPS. As a group, analysts anticipate that AutoZone, Inc. will post 150.51 EPS for the current year.

AutoZone declared that its Board of Directors has initiated a stock buyback program on Tuesday, June 16th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at AutoZone

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

AutoZone Company Profile

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.