Oddo BHF Asset Management Sas Takes Position in AutoZone, Inc. (NYSE:AZO)

Oddo BHF Asset Management Sas bought a new position in AutoZone, Inc. (NYSE:AZO) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 701 shares of the company’s stock, valued at approximately $2,208,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone during the 2nd quarter worth $424,000. Baillie Gifford & Co. increased its stake in AutoZone by 2,714.8% in the second quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after acquiring an additional 115,924 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in AutoZone by 319.0% during the second quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock worth $107,375,000 after purchasing an additional 27,580 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of several recent research reports. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Guggenheim increased their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho increased their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $3,200.00 price objective on shares of AutoZone in a research report on Thursday, September 19th. Finally, Citigroup raised their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $3,360.47.

AutoZone Stock Up 0.9 %

NYSE AZO opened at $3,369.01 on Friday. The company has a market capitalization of $56.95 billion, a P/E ratio of 22.51, a price-to-earnings-growth ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,416.71. The stock’s 50-day moving average price is $3,155.07 and its 200-day moving average price is $3,065.08.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business posted $32.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts anticipate that AutoZone, Inc. will post 154.29 EPS for the current year.

Insider Activity

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,880 shares of company stock worth $46,225,660 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

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.