Union Bancaire Privee UBP SA Sells 5,028 Shares of AutoZone, Inc. $AZO

Union Bancaire Privee UBP SA decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 29.3% in the first quarter, Holdings Channel.com reports. The firm owned 12,144 shares of the company’s stock after selling 5,028 shares during the period. AutoZone comprises 0.6% of Union Bancaire Privee UBP SA’s portfolio, making the stock its 29th largest holding. Union Bancaire Privee UBP SA’s holdings in AutoZone were worth $38,111,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Cambient Family Office LLC bought a new position in AutoZone during the 1st quarter valued at approximately $226,000. Narus Financial Partners LLC raised its position in shares of AutoZone by 9.5% in the 1st quarter. Narus Financial Partners LLC now owns 69 shares of the company’s stock worth $233,000 after purchasing an additional 6 shares during the last quarter. Crown Wealth Group LLC boosted its stake in AutoZone by 3.7% in the 1st quarter. Crown Wealth Group LLC now owns 84 shares of the company’s stock worth $284,000 after purchasing an additional 3 shares in the last quarter. GHP Investment Advisors Inc. grew its position in AutoZone by 433.3% during the 1st quarter. GHP Investment Advisors Inc. now owns 32 shares of the company’s stock valued at $108,000 after purchasing an additional 26 shares during the last quarter. Finally, Meyer Handelman Co. increased its stake in AutoZone by 19.8% during the 1st quarter. Meyer Handelman Co. now owns 3,096 shares of the company’s stock valued at $10,458,000 after purchasing an additional 511 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In other news, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the 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 sale, the director directly owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.60% of the company’s stock.

AutoZone Trading Up 2.2%

Shares of NYSE AZO opened at $3,127.52 on Friday. AutoZone, Inc. has a 12-month low of $2,928.11 and a 12-month high of $4,388.11. The firm has a market capitalization of $51.07 billion, a price-to-earnings ratio of 21.50, a price-to-earnings-growth ratio of 1.55 and a beta of 0.35. The firm has a 50 day moving average of $3,288.33 and a 200 day moving average of $3,456.61.

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

AutoZone announced that its board has authorized a stock buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group set a $4,800.00 price objective on shares of AutoZone in a report on Tuesday, March 3rd. Jefferies Financial Group dropped their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings cut shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, BMO Capital Markets lowered their price objective on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

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.