AutoZone, Inc. $AZO Shares Sold by Vontobel Holding Ltd.

Key Points

• Vontobel Holding reduced its AutoZone stake by 69.1% in the third quarter, selling 37,911 shares and retaining 16,971 shares valued at approximately $48 million. Institutional investors collectively own 92.74% of the company.
• Analysts remain broadly positive, with AutoZone receiving a “Moderate Buy” consensus rating and an average price target of $3,669.12, despite some firms lowering targets.
• AutoZone shares recently traded at $3,116.62, while the company reported 5.6% year-over-year revenue growth in its latest quarter. The stock has a 12-month range of $2,730.65 to $4,040.00.

Vontobel Holding Ltd. lessened its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 69.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,971 shares of the company's stock after selling 37,911 shares during the quarter. Vontobel Holding Ltd. owned 0.10% of AutoZone worth $48,028,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. bought a new stake in shares of AutoZone during the 2nd quarter valued at about $29,000. Burkett Financial Services LLC bought a new position in shares of AutoZone in the 3rd quarter worth approximately $31,000. Tacita Capital Inc bought a new position in shares of AutoZone in the 2nd quarter worth approximately $32,000. Asset Dedication LLC boosted its holdings in shares of AutoZone by 150.0% in the first quarter. Asset Dedication LLC now owns 10 shares of the company's stock worth $34,000 after buying an additional 6 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new position in shares of AutoZone in the third quarter worth approximately $34,000. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group set a $3,850.00 target price on shares of AutoZone in a research report on Wednesday, September 23rd. Evercore reiterated an "outperform" rating on shares of AutoZone in a research report on Wednesday, September 23rd. Weiss Ratings downgraded shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, July 23rd. Oppenheimer set a $3,400.00 price target on shares of AutoZone in a research note on Wednesday, September 23rd. Finally, Truist Financial cut their price objective on shares of AutoZone from $3,817.00 to $3,648.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $3,669.12.

Insider Buying and Selling

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares of the company's stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company's stock.

AutoZone Stock Performance

Shares of NYSE AZO traded up $57.00 during trading on Friday, hitting $3,116.62. The company had a trading volume of 258,747 shares, compared to its average volume of 345,846. The stock has a 50 day simple moving average of $2,937.50 and a 200 day simple moving average of $3,131.66. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $4,040.00. The firm has a market capitalization of $50.89 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.42 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last posted 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. The firm had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $48.71 EPS. As a group, analysts predict that AutoZone, Inc. will post 171.50 EPS for the current year.

AutoZone Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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