Pictet Asset Management Holding SA Increases Position in AutoZone, Inc. (NYSE:AZO)

Pictet Asset Management Holding SA raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 8.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,368 shares of the company’s stock after buying an additional 1,187 shares during the period. Pictet Asset Management Holding SA’s holdings in AutoZone were worth $49,208,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in AutoZone during the 4th quarter valued at about $32,000. Harbour Investments Inc. boosted its stake in shares of AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust acquired a new position in shares of AutoZone in the fourth quarter valued at approximately $61,000. McIlrath & Eck LLC increased its stake in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in AutoZone during the 4th quarter worth approximately $67,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Down 1.5 %

NYSE:AZO opened at $3,769.72 on Friday. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,838.00. The stock’s 50 day moving average price is $3,483.80 and its 200 day moving average price is $3,279.56. The company has a market capitalization of $63.26 billion, a PE ratio of 25.19, a P/E/G ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AZO shares. Truist Financial boosted their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Guggenheim upped their price target on AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Wells Fargo & Company increased their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. Barclays boosted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Finally, Citigroup upped their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,683.36.

Insider Activity

In related news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now owns 50 shares in the company, valued at $177,500. The trade was a 76.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the sale, the chief executive officer now directly owns 163 shares of the company’s stock, valued at approximately $619,401.63. This represents a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,721 shares of company stock valued at $24,609,331. Insiders own 2.10% of the company’s stock.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.