Vontobel Holding Ltd. Sells 5,835 Shares of AutoZone, Inc. $AZO

Key Points

• Vontobel Holding Ltd. trimmed its AutoZone stake by 5.7% in the fourth quarter, selling 5,835 shares and leaving it with 96,732 shares valued at about $328.1 million.
• AutoZone reported better-than-expected quarterly earnings of $38.07 per share, topping estimates, while revenue rose 8.4% year over year to $4.84 billion.
• Analyst sentiment remains positive overall, with a Moderate Buy consensus and an average price target of $4,040.87, though several firms recently adjusted their targets lower.

Vontobel Holding Ltd. reduced its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,732 shares of the company's stock after selling 5,835 shares during the period. AutoZone makes up 1.0% of Vontobel Holding Ltd.'s portfolio, making the stock its 27th largest holding. Vontobel Holding Ltd. owned approximately 0.58% of AutoZone worth $328,067,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Turning Point Benefit Group Inc. bought a new stake in AutoZone in the 3rd quarter valued at $25,000. Torren Management LLC bought a new stake in AutoZone in the 4th quarter valued at $27,000. MCF Advisors LLC increased its holdings 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 acquiring an additional 3 shares during the last quarter. Newport Capital Group LLC bought a new stake in AutoZone in the 4th quarter valued at $35,000. Finally, Elevated Capital Advisors LLC bought a new stake in AutoZone in the 4th quarter valued at $37,000. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch purchased 165 shares of the company's stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director owned 1,219 shares in the company, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director directly owned 4,837 shares of the company's stock, 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. 2.60% of the stock is currently owned by insiders.

AutoZone Stock Up 0.9%

Shares of NYSE:AZO opened at $3,110.16 on Friday. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The stock has a market capitalization of $51.26 billion, a P/E ratio of 21.38, a PEG ratio of 1.56 and a beta of 0.35. The firm has a fifty day simple moving average of $3,367.14 and a two-hundred day simple moving average of $3,514.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping 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 business had revenue of $4.84 billion during the quarter, compared to analysts' expectations of $4.86 billion. During the same period last year, the company posted $35.36 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, analysts expect that AutoZone, Inc. will post 150.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on AZO. Oppenheimer reissued an "outperform" rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 27th. Citigroup dropped their price objective on shares of AutoZone from $4,300.00 to $3,700.00 and set a "buy" rating for the company in a research note on Wednesday, May 27th. Argus raised shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price objective for the company in a research note on Monday, March 9th. Finally, Mizuho dropped their price objective on shares of AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, AutoZone has a consensus rating of "Moderate Buy" and an average price target of $4,040.87.

AutoZone Company 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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