Banque Transatlantique SA Boosts Stock Position in AutoZone, Inc. $AZO

Key Points

• Banque Transatlantique SA increased its stake in AutoZone by 102% in Q3, adding 676 shares to hold 1,339 shares now valued at about $5.73 million.
• AutoZone is heavily institutionally owned (92.74%) with major holders like Vanguard (1.797M shares, ~$7.71B) and Norges Bank; the company has a market cap of $58.95B and a P/E of 24.93.
• Analysts have a consensus "Moderate Buy" rating with a $4,318.38 price target; the latest quarter showed EPS of $27.63 (beat by $0.04) and revenue up 8.2% YoY but slightly under estimates, while insiders sold about 9,447 shares (~$34.18M) in the past 90 days.

Banque Transatlantique SA increased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 102.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,339 shares of the company's stock after acquiring an additional 676 shares during the quarter. Banque Transatlantique SA's holdings in AutoZone were worth $5,731,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after acquiring an additional 26,544 shares in the last quarter. Laurel Wealth Advisors LLC increased its position in AutoZone by 371,123.0% during the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company's stock valued at $3,472,724,000 after acquiring an additional 935,230 shares during the last quarter. State Street Corp boosted its position in AutoZone by 1.6% in the second quarter. State Street Corp now owns 714,091 shares of the company's stock worth $2,650,870,000 after purchasing an additional 11,088 shares during the last quarter. Norges Bank purchased a new stake in AutoZone during the second quarter valued at approximately $981,202,000. Finally, Alliancebernstein L.P. grew its position in shares of AutoZone by 4.5% during the 2nd quarter. Alliancebernstein L.P. now owns 165,622 shares of the company's stock valued at $614,827,000 after acquiring an additional 7,135 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AZO. Zacks Research raised AutoZone from a "strong sell" rating to a "hold" rating in a research note on Monday, November 24th. Truist Financial dropped their price target on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. BNP Paribas Exane dropped their price objective on shares of AutoZone from $4,811.00 to $4,268.00 and set an "outperform" rating for the company in a research note on Wednesday, December 10th. TD Cowen reaffirmed a "buy" rating on shares of AutoZone in a research note on Monday, February 23rd. Finally, DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $4,318.38.

AutoZone Stock Down 1.6%

AutoZone stock opened at $3,557.90 on Friday. The business's 50-day moving average price is $3,649.70 and its 200 day moving average price is $3,804.98. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The firm has a market cap of $58.95 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 1.85 and a beta of 0.41.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. AutoZone's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $28.29 earnings per share. Equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling

In related news, Director Earl G. Graves, Jr. sold 250 shares of the business's stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares of the company's stock, valued at $16,102,665. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George R. Mrkonic, Jr. sold 97 shares of the business's stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the transaction, the director owned 3,564 shares of the company's stock, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,447 shares of company stock worth $34,179,923 over the last 90 days. 2.60% of the stock is owned by insiders.

About AutoZone

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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