Eschler Asset Management LLP Takes $1.42 Million Position in AutoZone, Inc. $AZO

Eschler Asset Management LLP bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 331 shares of the company’s stock, valued at approximately $1,420,000. AutoZone makes up 1.1% of Eschler Asset Management LLP’s portfolio, making the stock its 16th biggest position.

Several other large investors have also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC raised its position in AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the period. Norges Bank acquired a new position in shares of AutoZone during the second quarter worth about $981,202,000. Vontobel Holding Ltd. boosted its position in shares of AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after buying an additional 75,382 shares during the period. Evelyn Partners Investment Management Services Ltd boosted its position in shares of AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after buying an additional 59,653 shares during the period. Finally, Victory Capital Management Inc. grew its stake in shares of AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after buying an additional 41,467 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 2.7%

Shares of NYSE AZO opened at $3,612.86 on Friday. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The business has a 50 day moving average price of $3,644.59 and a two-hundred day moving average price of $3,809.00. The firm has a market cap of $59.87 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. The company had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $28.29 EPS. On average, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays boosted their price target on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Raymond James Financial lowered their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating for the company in a research report on Wednesday, December 10th. DA Davidson set a $4,300.00 price objective on shares of AutoZone in a research note on Thursday, March 5th. Truist Financial reduced their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,318.38.

Insiders Place Their Bets

In other AutoZone news, Director George R. Mrkonic, Jr. sold 97 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,341.99, for a total transaction of $324,173.03. Following the completion of the transaction, the director directly owned 3,564 shares of the company’s stock, valued at $11,910,852.36. This trade represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. The trade was a 4.87% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 9,447 shares of company stock valued at $34,179,923. 2.60% of the stock is owned by insiders.

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.