Lombard Odier Asset Management Switzerland SA Takes Position in AutoZone, Inc. $AZO

Lombard Odier Asset Management Switzerland SA bought a new stake in AutoZone, Inc. (NYSE:AZO) in the first quarter, Holdings Channel reports. The institutional investor bought 2,901 shares of the company’s stock, valued at approximately $9,799,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in AutoZone during the 2nd quarter worth about $356,000. Guggenheim Capital LLC grew its holdings in AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after acquiring an additional 9 shares during the last quarter. NewEdge Advisors LLC grew its holdings in AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after acquiring an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after acquiring an additional 4,039 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.

AutoZone Stock Up 1.0%

AutoZone stock opened at $2,953.62 on Friday. The stock has a market cap of $48.23 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The company’s 50-day moving average price is $3,101.53 and its two-hundred day moving average price is $3,402.12.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the firm posted $35.36 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities analysts anticipate that AutoZone, Inc. will post 150.39 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 buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AZO shares. Jefferies Financial Group lowered their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Citigroup lowered their target price on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on AutoZone in a report on Wednesday, May 27th. The Goldman Sachs Group lowered their price objective on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, BMO Capital Markets dropped their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

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.