AutoZone, Inc. $AZO Shares Purchased by Vontobel Holding Ltd.

Vontobel Holding Ltd. boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 4,484.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,185 shares of the company’s stock after purchasing an additional 26,592 shares during the quarter. Vontobel Holding Ltd. owned about 0.16% of AutoZone worth $100,917,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wealthcare Advisory Partners LLC boosted its stake in shares of AutoZone by 2.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company’s stock valued at $538,000 after acquiring an additional 3 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of AutoZone by 2.9% during the first quarter. Focus Financial Network Inc. now owns 105 shares of the company’s stock valued at $400,000 after acquiring an additional 3 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock valued at $339,000 after acquiring an additional 3 shares during the last quarter. Rappaport Reiches Capital Management LLC boosted its stake in shares of AutoZone by 4.8% during the first quarter. Rappaport Reiches Capital Management LLC now owns 66 shares of the company’s stock valued at $252,000 after acquiring an additional 3 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in shares of AutoZone by 30.0% during the first quarter. Tradewinds Capital Management LLC now owns 13 shares of the company’s stock valued at $50,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

NYSE AZO opened at $4,020.44 on Thursday. The firm has a market capitalization of $67.46 billion, a P/E ratio of 27.75, a P/E/G ratio of 1.91 and a beta of 0.40. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11. The business’s 50-day simple moving average is $4,141.30 and its 200-day simple moving average is $3,851.18.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing the consensus estimate of $50.52 by ($1.81). The company had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $51.58 earnings per share. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has initiated a stock repurchase program on Wednesday, October 8th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, VP Richard Craig Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at approximately $11,337,007.50. This trade represents a 50.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Barclays raised their price target on AutoZone from $3,916.00 to $4,610.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. raised their price target on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Guggenheim raised their price target on AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. UBS Group decreased their price target on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Finally, Rothschild & Co Redburn raised their price target on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,544.68.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.