Pictet Asset Management Holding SA Has $47.71 Million Holdings in AutoZone, Inc. $AZO

Pictet Asset Management Holding SA lessened its position in shares of AutoZone, Inc. (NYSE:AZO) by 37.2% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,126 shares of the company’s stock after selling 8,360 shares during the period. Pictet Asset Management Holding SA’s holdings in AutoZone were worth $47,713,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter worth about $25,000. Torren Management LLC acquired a new position in shares of AutoZone in the 4th quarter valued at about $27,000. Transamerica Financial Advisors LLC boosted its position in shares of AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after purchasing an additional 4 shares in the last quarter. MCF Advisors LLC boosted its position in shares of AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after purchasing an additional 3 shares in the last quarter. Finally, Bard Associates Inc. acquired a new stake in AutoZone during the fourth quarter worth approximately $31,000. Institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AZO shares. Morgan Stanley lowered their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. UBS Group set a $4,800.00 price objective on shares of AutoZone in a research report on Tuesday, March 3rd. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. TD Cowen reiterated a “buy” rating and set a $3,700.00 target price on shares of AutoZone in a research report on Thursday, June 4th. Finally, Jefferies Financial Group cut their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Trading Up 0.6%

NYSE AZO opened at $3,146.30 on Tuesday. The company has a fifty day simple moving average of $3,281.40 and a 200 day simple moving average of $3,451.83. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11. The company has a market cap of $51.38 billion, a P/E ratio of 21.63, a PEG ratio of 1.59 and a beta of 0.35.

AutoZone (NYSE:AZO) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the company posted $35.36 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Sell-side analysts predict that AutoZone, Inc. will post 150.51 EPS for the current year.

AutoZone announced that its Board of Directors has initiated a stock buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.