AutoZone, Inc. $AZO Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in AutoZone, Inc. (NYSE:AZO) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,549 shares of the company’s stock after selling 204 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of AutoZone worth $53,838,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Aspect Partners LLC increased its stake in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after purchasing an additional 7 shares in the last quarter. Salomon & Ludwin LLC purchased a new position in AutoZone in the 3rd quarter valued at about $34,000. Bank of Jackson Hole Trust acquired a new stake in AutoZone in the 2nd quarter worth about $33,000. NewSquare Capital LLC boosted its holdings in AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in AutoZone during the 2nd quarter worth approximately $33,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup decreased their target price on 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. Roth Capital reissued a “buy” rating and issued a $4,650.00 price objective (down from $4,750.00) on shares of AutoZone in a research note on Wednesday, December 10th. BMO Capital Markets lowered their target price on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. DA Davidson dropped their target price on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Finally, Baird R W upgraded shares of AutoZone to a “strong-buy” rating in a research report on Thursday, December 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $4,310.12.

Insiders Place Their Bets

In other AutoZone news, Director Michael A. George acquired 145 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was bought at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the transaction, the director owned 566 shares of the company’s stock, valued at approximately $1,923,341.58. The trade was a 34.44% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the transaction, the director directly owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 3,180 shares worth $12,465,312. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Up 3.1%

Shares of AZO opened at $3,417.62 on Monday. AutoZone, Inc. has a 52-week low of $3,162.00 and a 52-week high of $4,388.11. The stock has a fifty day simple moving average of $3,617.96 and a two-hundred day simple moving average of $3,857.72. The company has a market capitalization of $56.63 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.63 and a beta of 0.42.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm posted $32.52 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has initiated 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 purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.