Teacher Retirement System of Texas Boosts Holdings in AutoZone, Inc. $AZO

Teacher Retirement System of Texas raised its holdings in AutoZone, Inc. (NYSE:AZO) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,642 shares of the company’s stock after purchasing an additional 323 shares during the period. AutoZone accounts for approximately 0.4% of Teacher Retirement System of Texas’ portfolio, making the stock its 29th largest holding. Teacher Retirement System of Texas’ holdings in AutoZone were worth $105,720,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AZO. Grandfield & Dodd LLC lifted its stake in AutoZone by 0.4% in the 3rd quarter. Grandfield & Dodd LLC now owns 4,849 shares of the company’s stock valued at $20,803,000 after buying an additional 21 shares in the last quarter. Strs Ohio increased its position in AutoZone by 12.5% during the third quarter. Strs Ohio now owns 5,937 shares of the company’s stock worth $25,471,000 after buying an additional 660 shares in the last quarter. Covestor Ltd raised its holdings in shares of AutoZone by 5.5% in the third quarter. Covestor Ltd now owns 58 shares of the company’s stock worth $250,000 after acquiring an additional 3 shares during the last quarter. Accredited Investors Inc. purchased a new stake in shares of AutoZone in the third quarter valued at $236,000. Finally, Avidian Wealth Enterprises LLC boosted its stake in shares of AutoZone by 30.7% during the third quarter. Avidian Wealth Enterprises LLC now owns 149 shares of the company’s stock valued at $639,000 after acquiring an additional 35 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZO has been the subject of several analyst reports. JPMorgan Chase & Co. cut their target price on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a research note on Thursday, December 18th. BMO Capital Markets lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Wolfe Research lowered shares of AutoZone from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, December 16th. Mizuho restated a “neutral” rating and set a $3,550.00 target price (down previously from $3,850.00) on shares of AutoZone in a research report on Monday, January 5th. Finally, DA Davidson cut their price target on AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,285.00.

Insider Buying and Selling

In other AutoZone news, Director Michael A. George purchased 145 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were purchased at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. This represents a 34.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch acquired 147 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director owned 962 shares of the company’s stock, valued at $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 347 shares of company stock worth $1,179,256 and sold 3,837 shares worth $13,445,423. 2.60% of the stock is owned by company insiders.

AutoZone Stock Up 0.6%

NYSE:AZO opened at $3,692.15 on Friday. The company has a market cap of $61.18 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.75 and a beta of 0.42. The firm’s 50 day moving average is $3,588.83 and its two-hundred day moving average is $3,848.33. 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 released its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the company earned $32.52 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its board has approved a stock repurchase plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.