Lombard Odier Asset Management USA Corp Has $497,000 Holdings in AutoZone, Inc. $AZO

Lombard Odier Asset Management USA Corp lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 73.7% during the first quarter, Holdings Channel.com reports. The firm owned 147 shares of the company’s stock after selling 412 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in AutoZone were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Turning Point Benefit Group Inc. bought a new position in AutoZone during the 3rd quarter worth $25,000. Torren Management LLC bought a new stake in shares of AutoZone in the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC grew its stake in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after acquiring an additional 4 shares in the last quarter. MCF Advisors LLC grew its stake in shares of AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after acquiring an additional 3 shares in the last quarter. Finally, Bard Associates Inc. bought a new position in AutoZone during the fourth quarter worth about $31,000. 92.74% of the stock is currently owned by institutional investors.

AutoZone Stock Up 1.0%

Shares of NYSE:AZO opened at $2,953.62 on Friday. The firm has a market cap of $48.23 billion, a P/E ratio of 20.31, a P/E/G ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The business has a fifty day simple moving average of $3,101.53 and a 200 day simple moving average of $3,402.12.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the company posted $35.36 EPS. The business’s revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts expect that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone declared that its board has initiated a stock repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a research report on Wednesday, May 27th. Robert W. Baird decreased their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley decreased their target price on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings downgraded shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Finally, Guggenheim lowered their price objective on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,040.87.

Insider Buying and Selling

In other news, Director Brian Hannasch bought 165 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

AutoZone Company 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.