Bancreek Capital Management LP Acquires New Shares in AutoZone, Inc. $AZO

Bancreek Capital Management LP bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 833 shares of the company’s stock, valued at approximately $3,574,000. AutoZone comprises about 7.5% of Bancreek Capital Management LP’s portfolio, making the stock its 8th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. acquired a new stake in shares of AutoZone during the 3rd quarter worth about $26,000. Aspect Partners LLC boosted its stake in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the period. Global Trust Asset Management LLC increased its position in shares of AutoZone by 600.0% during the third 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. Bank of Jackson Hole Trust purchased a new stake in shares of AutoZone in the 2nd quarter valued at approximately $33,000. Finally, NewSquare Capital LLC raised its stake in shares of AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other news, Director Michael A. George bought 145 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the purchase, the director owned 566 shares in the company, valued at approximately $1,923,341.58. This trade 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, Director Earl G. Graves, Jr. sold 250 shares of the stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AZO shares. Guggenheim lowered their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Erste Group Bank lowered AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, October 31st. UBS Group reiterated a “buy” rating and issued a $4,555.00 price objective on shares of AutoZone in a report on Wednesday, February 4th. Wells Fargo & Company decreased their target price on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 10th. Finally, BMO Capital Markets dropped their target price on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $4,271.25.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,829.47 on Tuesday. The stock’s 50-day moving average is $3,570.09 and its two-hundred day moving average is $3,837.93. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The company has a market cap of $63.45 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) 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 company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the previous year, the business posted $32.52 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.