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

EULAV Asset Management bought a new stake in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,000 shares of the company’s stock, valued at approximately $33,915,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone in the third quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at about $27,000. Newport Capital Group LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at about $35,000. Elevated Capital Advisors LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at about $37,000. Finally, Ares Financial Consulting LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,116.41 on Friday. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11. The company has a market capitalization of $51.36 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.57 and a beta of 0.35. The firm’s 50-day moving average is $3,393.83 and its two-hundred day moving average is $3,540.32.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the firm earned $35.36 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 150.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on AZO shares. BNP Paribas Exane lowered their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a report on Monday, March 9th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating and issued a $3,700.00 target price on shares of AutoZone in a report on Thursday. Finally, BMO Capital Markets lowered their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. One investment 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 data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $4,040.87.

Insider Activity

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction that occurred 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 transaction, the director 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. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Hannasch acquired 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, for a total transaction 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 SEC filing for this purchase provides additional information. 2.60% of the stock is owned by corporate insiders.

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.