913 AutoZone, Inc. $AZO Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.7% in the third quarter, Holdings Channel reports. The firm owned 10,310 shares of the company’s stock after acquiring an additional 913 shares during the quarter. Pictet Asset Management Holding SA’s holdings in AutoZone were worth $29,178,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AZO. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of AutoZone during the second quarter valued at approximately $29,000. Burkett Financial Services LLC bought a new stake in shares of AutoZone during the third quarter valued at approximately $31,000. Heritage Family Offices LLP purchased a new position in AutoZone in the 3rd quarter worth approximately $31,000. Tacita Capital Inc purchased a new position in AutoZone in the 2nd quarter worth approximately $32,000. Finally, Asset Dedication LLC raised its holdings in AutoZone by 150.0% in the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock worth $34,000 after acquiring an additional 6 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Down 1.0%

AZO opened at $3,219.45 on Wednesday. The firm has a 50 day moving average price of $3,002.85 and a 200-day moving average price of $3,250.70. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $3,996.25. The stock has a market capitalization of $51.80 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 1.67 and a beta of 0.37.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the prior year, the firm earned $48.71 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current year.

Insiders Place Their Bets

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the sale, the chief financial officer directly owned 496 shares in the company, valued at approximately $1,646,576.16. The trade was a 93.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup cut their target price on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Roth Capital decreased their price target on AutoZone from $4,023.00 to $3,850.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Wells Fargo & Company decreased their price target on AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating for the company in a research note on Thursday, September 10th. BMO Capital Markets lowered their price target on AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating on the stock in a report on Wednesday, September 23rd. Finally, Oppenheimer set a $3,400.00 price objective on AutoZone in a research report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,674.36.

AutoZone Company Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.