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

by · The Cerbat Gem

Teachers Retirement System of The State of Kentucky decreased its position in AutoZone, Inc. (NYSE:AZO – Free Report) by 28.3% during the 3rd quarter, Holdings Channel reports. 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’s holdings in AutoZone were worth $38,423,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC increased its position in shares of AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the last quarter. Norges Bank acquired a new position in shares of AutoZone during the second quarter worth $981,202,000. Vontobel Holding Ltd. grew its stake in shares of AutoZone by 277.3% during the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after purchasing an additional 75,382 shares in the last quarter. Evelyn Partners Investment Management Services Ltd increased its holdings in AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock valued at $240,126,000 after buying an additional 59,653 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after buying an additional 41,467 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Raymond James Financial dropped their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a report on Wednesday, December 10th. Mizuho reiterated a “neutral” rating and issued a $3,550.00 price target (down from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. BNP Paribas Exane cut their price objective on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. TD Cowen restated a “buy” rating on shares of AutoZone in a research report on Monday, February 23rd. Finally, Citigroup dropped their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4,280.63.

Check Out Our Latest Stock Report on AZO

AutoZone Price Performance

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

AutoZone (NYSE:AZO – Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. AutoZone’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $28.29 EPS. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Activity

In other AutoZone news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction that occurred on 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 transaction, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This trade represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. George purchased 145 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were bought at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director directly owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. Corporate insiders own 2.60% of the company’s stock.

About AutoZone

(Free Report)

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.

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