Freemont Management S.A. Acquires New Shares in AutoZone, Inc. $AZO

Freemont Management S.A. acquired a new position in AutoZone, Inc. (NYSE:AZO) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,200 shares of the company’s stock, valued at approximately $19,304,000. AutoZone makes up approximately 2.9% of Freemont Management S.A.’s investment portfolio, making the stock its 6th largest position.

Other institutional investors also recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new stake in shares of AutoZone in the first quarter worth about $27,000. Saudi Central Bank bought a new position in shares of AutoZone in the 1st quarter valued at approximately $27,000. Aspect Partners LLC raised its stake in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after acquiring an additional 7 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in AutoZone in the 2nd quarter worth approximately $33,000. Finally, NewSquare Capital LLC boosted its position in AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after purchasing an additional 3 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the sale, the chief executive officer owned 55 shares in the company, valued at approximately $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 5,693 shares of company stock worth $23,259,891. Company insiders own 2.60% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $3,715.69 on Friday. The stock has a market cap of $61.80 billion, a P/E ratio of 25.65, a PEG ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a one year low of $3,036.40 and a one year high of $4,388.11. The company has a fifty day moving average price of $4,052.26 and a 200 day moving average price of $3,883.62.

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

AutoZone declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AZO shares. Jefferies Financial Group lifted their price target on shares of AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. TD Cowen lifted their target price on shares of AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. Raymond James Financial cut their target price on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 24th. Finally, Roth Capital restated a “buy” rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,544.68.

AutoZone Company Profile

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.