EULAV Asset Management Takes $33.92 Million Position in AutoZone, Inc. $AZO

Key Points

• EULAV Asset Management opened a new position in AutoZone during the fourth quarter, buying 10,000 shares worth about $33.9 million. The stake represented roughly 0.06% of the company.
• AutoZone’s latest quarterly results beat earnings expectations, posting $38.07 EPS versus the $36.22 consensus, while revenue rose 8.4% year over year to $4.84 billion.
• Analysts remain broadly positive on the stock, with an average rating of Moderate Buy and an average price target of about $4,040.87; insiders also showed mixed activity, including a recent director purchase.

EULAV Asset Management acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,000 shares of the company's stock, valued at approximately $33,915,000. EULAV Asset Management owned approximately 0.06% of AutoZone at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Westfield Capital Management Co. LP raised its holdings in shares of AutoZone by 11.7% in the 4th quarter. Westfield Capital Management Co. LP now owns 51,122 shares of the company's stock valued at $173,379,000 after purchasing an additional 5,352 shares in the last quarter. Avise Financial Cooperative Inc. acquired a new stake in shares of AutoZone in the 4th quarter valued at $329,000. Vise Technologies Inc. raised its holdings in shares of AutoZone by 6.1% in the 4th quarter. Vise Technologies Inc. now owns 403 shares of the company's stock valued at $1,366,000 after purchasing an additional 23 shares in the last quarter. Verus Capital Partners LLC raised its holdings in shares of AutoZone by 13.0% in the 4th quarter. Verus Capital Partners LLC now owns 165 shares of the company's stock valued at $560,000 after purchasing an additional 19 shares in the last quarter. Finally, Cibc World Market Inc. raised its holdings in shares of AutoZone by 0.5% in the 4th quarter. Cibc World Market Inc. now owns 5,186 shares of the company's stock valued at $17,588,000 after purchasing an additional 24 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE AZO opened at $3,116.41 on Friday. The firm has a market cap of $51.36 billion, a PE ratio of 21.43, a P/E/G ratio of 1.57 and a beta of 0.35. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The firm's fifty day moving average is $3,393.83 and its two-hundred day moving average is $3,540.32.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts' consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. AutoZone's quarterly revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $35.36 earnings per share. Research analysts predict that AutoZone, Inc. will post 150.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

AZO has been the topic of several research analyst reports. UBS Group set a $4,800.00 price target on shares of AutoZone in a research note on Tuesday, March 3rd. Morgan Stanley cut their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 27th. Evercore reiterated an "outperform" rating on shares of AutoZone in a research note on Tuesday, May 26th. BMO Capital Markets cut their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 27th. Finally, Oppenheimer reiterated an "outperform" rating and set a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. One equities research 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 company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the company's stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company's stock.

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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