Freemont Management S.A. Has $6.11 Million Position in AutoZone, Inc. $AZO

Freemont Management S.A. boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 200.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,800 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. AutoZone accounts for approximately 1.1% of Freemont Management S.A.’s portfolio, making the stock its 28th largest position. Freemont Management S.A.’s holdings in AutoZone were worth $6,105,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of AZO. Brighton Jones LLC lifted its holdings in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the period. Sivia Capital Partners LLC acquired a new position in AutoZone in the second quarter valued at approximately $356,000. Guggenheim Capital LLC lifted its holdings in AutoZone by 3.8% in the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after buying an additional 9 shares during the period. NewEdge Advisors LLC lifted its holdings in AutoZone by 8.9% in the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after buying an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in AutoZone by 52.3% in the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after buying an additional 4,039 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

AutoZone Stock Down 1.4%

Shares of AZO stock opened at $3,363.72 on Thursday. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11. The firm has a fifty day moving average of $3,505.51 and a 200-day moving average of $3,602.70. The company has a market capitalization of $55.43 billion, a price-to-earnings ratio of 23.57, a P/E/G ratio of 1.75 and a beta of 0.43.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $28.29 EPS. On average, equities analysts expect that AutoZone, Inc. will post 148.93 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AZO. Barclays increased their price target on shares of AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. BMO Capital Markets cut their price target on shares of AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. The Goldman Sachs Group increased their price target on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. TD Cowen cut their price target on shares of AutoZone from $4,400.00 to $4,250.00 and set a “buy” rating on the stock in a research report on Monday, March 16th. Finally, Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target on the stock in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,312.13.

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.