Teachers Retirement System of The State of Kentucky Decreases Position in AutoZone, Inc. $AZO

Teachers Retirement System of The State of Kentucky lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 28.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,956 shares of the company’s stock after selling 3,534 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.05% of AutoZone worth $38,423,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AZO. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone during the third quarter worth $26,000. Global Trust Asset Management LLC raised its holdings in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after acquiring an additional 6 shares during the last quarter. Aspect Partners LLC boosted its holdings in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares during the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of AutoZone in the third quarter valued at approximately $34,000. Finally, NewSquare Capital LLC increased its holdings in shares of AutoZone by 50.0% in the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after purchasing an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,869.12 on Tuesday. The stock has a market capitalization of $64.11 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 1.79 and a beta of 0.41. The business has a 50-day moving average of $3,603.67 and a 200 day moving average of $3,828.16. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same quarter in the prior year, the company earned $28.29 earnings per share. The business’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on AZO shares. BNP Paribas Exane dropped their target price on AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a report on Wednesday, December 10th. Wells Fargo & Company lowered their price target on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Barclays set a $3,880.00 price objective on shares of AutoZone in a research report on Thursday, January 8th. Evercore increased their price target on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Gabelli restated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,280.63.

Insider Activity at AutoZone

In other AutoZone news, Director Michael A. George purchased 145 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the transaction, the director directly 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. This trade represents a 69.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

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.