Freemont Management S.A. Cuts Stock Position in AutoZone, Inc. $AZO

Freemont Management S.A. cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 88.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 600 shares of the company’s stock after selling 4,600 shares during the quarter. AutoZone accounts for approximately 1.3% of Freemont Management S.A.’s investment portfolio, making the stock its 21st biggest holding. Freemont Management S.A.’s holdings in AutoZone were worth $2,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ritholtz Wealth Management increased its holdings in AutoZone by 0.3% during the second quarter. Ritholtz Wealth Management now owns 1,179 shares of the company’s stock worth $4,377,000 after buying an additional 3 shares during the last quarter. Pittenger & Anderson Inc. grew its position in shares of AutoZone by 4.3% during the 2nd quarter. Pittenger & Anderson Inc. now owns 72 shares of the company’s stock valued at $267,000 after acquiring an additional 3 shares during the period. Harbour Investments Inc. increased its stake in shares of AutoZone by 27.3% during the 2nd quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock worth $52,000 after purchasing an additional 3 shares during the last quarter. May Hill Capital LLC raised its holdings in shares of AutoZone by 5.5% in the 2nd quarter. May Hill Capital LLC now owns 58 shares of the company’s stock worth $215,000 after purchasing an additional 3 shares during the period. Finally, NewSquare Capital LLC lifted its stake in AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director George R. Mrkonic, Jr. sold 97 shares of AutoZone 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 sale, the director directly owned 3,564 shares of the company’s stock, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average cost of $3,393.09 per share, for a total transaction of $498,784.23. Following the purchase, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. The trade was a 18.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Up 1.4%

NYSE:AZO opened at $3,790.01 on Friday. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The stock has a market cap of $62.80 billion, a P/E ratio of 26.43, a PEG ratio of 1.78 and a beta of 0.41. The business’s 50-day moving average price is $3,538.36 and its two-hundred day moving average price is $3,845.29.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same period in the prior year, the business earned $32.52 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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. JPMorgan Chase & Co. decreased their price objective on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. Zacks Research raised shares of AutoZone from a “strong sell” rating to a “hold” rating in a report on Monday, November 24th. Wells Fargo & Company cut their target price on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. Finally, Erste Group Bank lowered shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $4,271.25.

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.