Swiss Life Asset Management Ltd Boosts Position in AutoZone, Inc. $AZO

Swiss Life Asset Management Ltd increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,067 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in AutoZone were worth $10,402,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. ABN AMRO Bank N.V. lifted its stake in AutoZone by 187.8% during the fourth quarter. ABN AMRO Bank N.V. now owns 898 shares of the company’s stock worth $3,041,000 after purchasing an additional 586 shares during the last quarter. Osprey Private Wealth LLC increased its position in AutoZone by 28.5% during the fourth quarter. Osprey Private Wealth LLC now owns 2,004 shares of the company’s stock worth $6,797,000 after buying an additional 445 shares during the period. Midwest Trust Co increased its position in AutoZone by 4.2% during the fourth quarter. Midwest Trust Co now owns 74 shares of the company’s stock worth $251,000 after buying an additional 3 shares during the period. NewEdge Wealth LLC boosted its holdings in shares of AutoZone by 6.3% in the fourth quarter. NewEdge Wealth LLC now owns 21,637 shares of the company’s stock valued at $73,383,000 after acquiring an additional 1,289 shares during the period. Finally, F m Investments LLC grew its position in shares of AutoZone by 16.2% during the fourth quarter. F m Investments LLC now owns 86 shares of the company’s stock worth $292,000 after acquiring an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AZO. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 target price on the stock in a research report on Monday, March 9th. UBS Group set a $4,800.00 target price on shares of AutoZone in a research report on Tuesday, March 3rd. Citigroup raised their target price on shares of AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Morgan Stanley raised their target price on shares of AutoZone from $4,000.00 to $4,020.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, Truist Financial lowered 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. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and an average target price of $4,312.13.

AutoZone Trading Down 0.4%

NYSE:AZO opened at $3,413.04 on Wednesday. The firm has a market cap of $56.25 billion, a P/E ratio of 23.91, a PEG ratio of 1.76 and a beta of 0.43. The stock’s 50 day simple moving average is $3,515.61 and its 200-day simple moving average is $3,606.10. AutoZone, Inc. has a 12-month low of $3,210.72 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last released 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 business 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%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $28.29 earnings per share. Research analysts forecast that AutoZone, Inc. will post 148.93 EPS for the current fiscal year.

Insider Activity

In other news, Director Earl G. Graves, Jr. sold 50 shares of the business’s stock in a transaction that occurred on 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 transaction, the director owned 4,837 shares of the company’s stock, valued at approximately $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

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.