Eschler Asset Management LLP Acquires Shares of 331 AutoZone, Inc. $AZO

Eschler Asset Management LLP bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 331 shares of the company’s stock, valued at approximately $1,420,000. AutoZone comprises 1.1% of Eschler Asset Management LLP’s holdings, making the stock its 16th largest holding.

Other hedge funds also recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its stake in AutoZone by 8.3% during the second quarter. Avantax Advisory Services Inc. now owns 2,742 shares of the company’s stock worth $10,179,000 after purchasing an additional 210 shares during the last quarter. Braun Stacey Associates Inc. increased its stake in AutoZone by 7.8% during the third quarter. Braun Stacey Associates Inc. now owns 8,425 shares of the company’s stock valued at $36,145,000 after purchasing an additional 613 shares during the last quarter. Summit Global Investments increased its stake in AutoZone by 132.8% during the third quarter. Summit Global Investments now owns 319 shares of the company’s stock valued at $1,369,000 after purchasing an additional 182 shares during the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of AutoZone during the third quarter worth $678,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of AutoZone by 68.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,457 shares of the company’s stock worth $6,251,000 after buying an additional 591 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AZO shares. Guggenheim decreased their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective on the stock in a research note on Monday. Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a report on Wednesday, December 10th. BMO Capital Markets lowered their target price on AutoZone from $4,400.00 to $4,300.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group increased their price target on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, AutoZone has an average rating of “Moderate Buy” and an average price target of $4,318.38.

Insiders Place Their Bets

In other AutoZone news, Director Michael A. George bought 145 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were purchased at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 9,447 shares of company stock worth $34,179,923. 2.60% of the stock is owned by company insiders.

AutoZone Stock Down 2.7%

Shares of NYSE:AZO opened at $3,612.86 on Friday. The company’s 50-day moving average price is $3,644.59 and its 200 day moving average price is $3,809.00. The company has a market cap of $59.87 billion, a PE ratio of 25.31, a P/E/G ratio of 1.90 and a beta of 0.41. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion during 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%. AutoZone’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $28.29 EPS. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

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.