Amundi Has $380.95 Million Holdings in AutoZone, Inc. $AZO

Key Points

• Amundi increased its AutoZone stake by 24.3% in the first quarter, owning 112,781 shares valued at approximately $380.95 million. Institutional investors collectively hold 92.74% of the company.
• Analysts maintain a bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $4,040.87, despite several recent target-price reductions.
• AutoZone exceeded quarterly earnings expectations, reporting $38.07 in EPS and 8.4% year-over-year revenue growth. The company also authorized a $1.5 billion share buyback, while a director purchased roughly $493,000 of stock.

Amundi increased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 24.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,781 shares of the company's stock after acquiring an additional 22,063 shares during the period. Amundi owned about 0.68% of AutoZone worth $380,949,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

AZO has been the topic of several analyst reports. Guggenheim reduced their price objective 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. Roth Capital cut their target price on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. JPMorgan Chase & Co. reduced their price target on AutoZone from $4,300.00 to $3,850.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, TD Cowen restated a "buy" rating and set a $3,700.00 price objective on shares of AutoZone in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and a consensus target price of $4,040.87.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,147.02 on Thursday. AutoZone, Inc. has a one year low of $2,902.20 and a one year high of $4,388.11. The stock's 50-day moving average is $3,085.63 and its 200 day moving average is $3,399.22. The firm has a market cap of $51.39 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 1.58 and a beta of 0.33.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts' consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company posted $35.36 earnings per share. On average, sell-side analysts expect that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In related news, Director Brian Hannasch bought 165 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

AutoZone 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.

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