Banque Cantonale Vaudoise Acquires 171 Shares of AutoZone, Inc. $AZO

Banque Cantonale Vaudoise grew its stake in shares of AutoZone, Inc. (NYSE:AZO) by 33.2% in the first quarter, Holdings Channel reports. The firm owned 686 shares of the company’s stock after acquiring an additional 171 shares during the period. Banque Cantonale Vaudoise’s holdings in AutoZone were worth $2,317,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Certified Advisory Corp purchased a new position in AutoZone in the 1st quarter worth about $253,000. Signal Advisors Wealth LLC purchased a new stake in AutoZone in the 1st quarter valued at about $1,314,000. XML Financial LLC boosted its position in AutoZone by 7.4% in the 1st quarter. XML Financial LLC now owns 73 shares of the company’s stock valued at $247,000 after buying an additional 5 shares during the period. Brookstone Capital Management grew its stake in AutoZone by 7.5% in the 1st quarter. Brookstone Capital Management now owns 158 shares of the company’s stock worth $534,000 after acquiring an additional 11 shares in the last quarter. Finally, Petredis Investment Advisors LLC increased its position in shares of AutoZone by 0.4% during the first quarter. Petredis Investment Advisors LLC now owns 762 shares of the company’s stock worth $2,574,000 after acquiring an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Performance

NYSE AZO opened at $3,059.55 on Friday. The company has a market cap of $49.96 billion, a PE ratio of 21.04, a P/E/G ratio of 1.57 and a beta of 0.35. The firm’s 50 day moving average price is $3,296.67 and its 200-day moving average price is $3,458.93. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates 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%. AutoZone’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $35.36 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone announced that its board has authorized a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated 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 sale, 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 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 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, 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 SEC filing for this purchase provides additional information. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. TD Cowen reissued a “buy” rating and issued a $3,700.00 price objective on shares of AutoZone in a research note on Thursday, June 4th. Guggenheim decreased their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lowered their target price on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price for the company in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

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.