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

Teachers Retirement System of The State of Kentucky cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 50.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 3,394 shares of the company’s stock after selling 3,514 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in AutoZone were worth $11,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in AutoZone during the 2nd quarter worth about $356,000. Guggenheim Capital LLC increased its holdings in AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after purchasing an additional 9 shares during the period. NewEdge Advisors LLC raised its position in AutoZone by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director Brian Hannasch purchased 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the transaction, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

AutoZone Trading Up 0.1%

AZO stock opened at $3,074.96 on Tuesday. The stock has a market cap of $50.21 billion, a P/E ratio of 21.14, a PEG ratio of 1.56 and a beta of 0.33. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The company’s 50 day moving average is $3,183.29 and its two-hundred day moving average is $3,428.29.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $35.36 EPS. On average, equities research analysts predict that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone announced that its board has authorized a stock buyback plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

AZO has been the subject of several recent research reports. Robert W. Baird decreased their price objective on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Weiss Ratings raised shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 8th. Mizuho decreased their price target on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. BMO Capital Markets lowered their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, BNP Paribas Exane lowered their price target on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Company 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.