EULAV Asset Management Sells 2,994 Shares of AutoZone, Inc. $AZO

Key Points

• EULAV Asset Management reduced its AutoZone position by 17.3% in the third quarter, selling 2,994 shares and retaining 14,306 shares worth approximately $40.5 million.
• Institutional investors own 92.74% of AutoZone, while corporate insiders hold 2.60%; several other investment firms reported significant increases in their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $3,669.12, despite several firms recently lowering their targets. AutoZone’s latest quarterly revenue rose 5.6% year over year to $6.59 billion.

EULAV Asset Management trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 17.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,306 shares of the company's stock after selling 2,994 shares during the period. AutoZone makes up approximately 1.4% of EULAV Asset Management's holdings, making the stock its 25th largest position. EULAV Asset Management owned approximately 0.09% of AutoZone worth $40,486,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in AutoZone by 42,984.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company's stock valued at $29,821,658,000 after buying an additional 10,513,156 shares in the last quarter. BlackRock Inc. purchased a new position in AutoZone during the second quarter valued at $3,938,566,000. Sound Income Strategies LLC boosted its holdings in AutoZone by 646,568.6% in the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company's stock worth $1,866,687,000 after acquiring an additional 659,500 shares in the last quarter. Howard Capital Management LLC boosted its holdings in AutoZone by 79,236.8% in the third quarter. Howard Capital Management LLC now owns 385,577 shares of the company's stock worth $1,091,191,000 after acquiring an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in AutoZone by 247,417.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock worth $798,963,000 after acquiring an additional 249,892 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Buying and Selling at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares of the company's stock, valued at $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AZO shares. Roth Capital reduced their price target on AutoZone from $4,023.00 to $3,850.00 and set a "buy" rating for the company in a report on Wednesday, September 23rd. Mizuho lowered their price target on AutoZone from $3,200.00 to $3,000.00 and set a "neutral" rating for the company in a research report on Wednesday, September 23rd. Piper Sandler set a $3,500.00 price target on AutoZone in a research report on Monday, August 31st. TD Cowen dropped their price target on shares of AutoZone from $3,500.00 to $3,400.00 and set a "buy" rating on the stock 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 on the stock 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $3,669.12.

AutoZone Stock Up 0.1%

Shares of NYSE AZO opened at $3,204.18 on Monday. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $3,996.25. The firm has a market cap of $52.32 billion, a P/E ratio of 20.97, a PEG ratio of 1.49 and a beta of 0.40. The company has a 50 day moving average of $2,951.22 and a 200 day moving average of $3,122.08.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating the consensus estimate of $0.54 by $55.51. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The company's revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $48.71 EPS. As a group, equities analysts expect that AutoZone, Inc. will post 170.72 earnings per share for the current fiscal year.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.

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