Banco Bilbao Vizcaya Argentaria S.A. Increases Position in AutoZone, Inc. $AZO

Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,966 shares of the company’s stock after purchasing an additional 306 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in AutoZone were worth $21,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC grew its stake in shares of AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after buying an additional 935,230 shares in the last quarter. Norges Bank acquired a new position in AutoZone during the 2nd quarter worth about $981,202,000. Vontobel Holding Ltd. boosted its holdings in AutoZone by 277.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after acquiring an additional 75,382 shares during the period. Evelyn Partners Investment Management Services Ltd grew its position in AutoZone by 1,185.5% in the 2nd quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock valued at $240,126,000 after acquiring an additional 59,653 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on AZO. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a research note on Monday, March 9th. Roth Mkm reduced their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. TD Cowen reissued a “buy” rating on shares of AutoZone in a research report on Monday, February 23rd. BNP Paribas Exane dropped their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Finally, UBS Group set a $4,800.00 price objective on AutoZone in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4,318.38.

Insider Activity

In related news, Director George R. Mrkonic, Jr. sold 97 shares of the business’s 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 transaction, the director owned 3,564 shares in the company, valued at approximately $11,910,852.36. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the sale, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,447 shares of company stock valued at $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Stock Down 1.6%

Shares of AutoZone stock opened at $3,557.90 on Monday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The company has a 50 day moving average of $3,649.70 and a 200 day moving average of $3,799.52. The company has a market capitalization of $58.95 billion, a P/E ratio of 24.93, a P/E/G ratio of 1.82 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the firm posted $28.29 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

About AutoZone

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.