Lombard Odier Asset Management USA Corp Sells 412 Shares of AutoZone, Inc. $AZO

Key Points

• Lombard Odier Asset Management USA Corp cut its AutoZone stake by 73.7% in the first quarter, selling 412 shares and leaving it with 147 shares valued at about $497,000.
• AutoZone reported fiscal Q3 earnings of $38.07 per share, beating expectations, while revenue rose 8.4% year over year to $4.84 billion.
• The company’s board approved a $1.5 billion share buyback, and analysts remain broadly positive with a Moderate Buy consensus and average price target of about $4,040.87.

Lombard Odier Asset Management USA Corp lessened its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 73.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 147 shares of the company's stock after selling 412 shares during the quarter. Lombard Odier Asset Management USA Corp's holdings in AutoZone were worth $497,000 as of its most recent filing with the SEC.

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

AutoZone Price Performance

Shares of AZO opened at $2,953.62 on Friday. The company has a market cap of $48.23 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. The firm has a 50-day moving average of $3,101.53 and a 200-day moving average of $3,402.12. AutoZone, Inc. has a one year low of $2,902.20 and a one year high of $4,388.11.

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

AutoZone declared that its board has approved a share buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the business's stock in a transaction dated Friday, May 29th. The stock was bought at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This represents a 15.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AZO has been the subject of a number of recent research reports. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a research note on Wednesday, May 27th. Guggenheim dropped their target price on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Roth Capital reduced their price target on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Jefferies Financial Group decreased their price target on AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Finally, Robert W. Baird lowered their price target on AutoZone from $3,900.00 to $3,600.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $4,040.87.

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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