AutoZone, Inc. $AZO Shares Bought by Swiss National Bank

Swiss National Bank lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,620 shares of the company’s stock after acquiring an additional 2,780 shares during the quarter. Swiss National Bank’s holdings in AutoZone were worth $164,228,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in AutoZone during the 2nd quarter worth approximately $356,000. Guggenheim Capital LLC increased its holdings in AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the last quarter. NewEdge Advisors LLC increased its holdings in AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after purchasing an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. DA Davidson reduced their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Evercore restated an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. JPMorgan Chase & Co. cut their price target on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, The Goldman Sachs Group decreased their price objective on shares of AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Stock Performance

AZO stock opened at $3,046.69 on Monday. The stock has a market capitalization of $49.75 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.55 and a beta of 0.33. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11. The stock’s fifty day moving average is $3,142.61 and its two-hundred day moving average is $3,416.47.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.86 billion. During the same quarter in the prior year, the firm earned $35.36 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that AutoZone, Inc. will post 150.51 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction 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 directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

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.