Alua Capital Management LP Acquires 5,000 Shares of AutoZone, Inc. $AZO

Alua Capital Management LP boosted its holdings in AutoZone, Inc. (NYSE:AZO) by 18.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,053 shares of the company’s stock after acquiring an additional 5,000 shares during the period. AutoZone comprises about 9.5% of Alua Capital Management LP’s investment portfolio, making the stock its 3rd biggest holding. Alua Capital Management LP owned about 0.19% of AutoZone worth $108,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AZO. Morgan Stanley grew its position in shares of AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of AutoZone by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company’s stock valued at $1,312,654,000 after purchasing an additional 7,390 shares during the period. Norges Bank acquired a new stake in shares of AutoZone in the fourth quarter valued at approximately $939,205,000. PineStone Asset Management Inc. raised its holdings in shares of AutoZone by 1.5% during the fourth quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock valued at $912,900,000 after buying an additional 3,868 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in shares of AutoZone by 2.7% during the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company’s stock valued at $886,246,000 after buying an additional 6,765 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 1.0%

NYSE:AZO opened at $2,953.62 on Friday. The company has a 50-day moving average of $3,101.53 and a 200-day moving average of $3,402.12. The firm has a market cap of $48.23 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.50 and a beta of 0.33. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm 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 firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $35.36 earnings per share. On average, research analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at AutoZone

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AZO shares. Weiss Ratings lowered AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday. Roth Capital decreased their target price on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. BNP Paribas Exane lowered their target price on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Robert W. Baird dropped their price target on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. Finally, Morgan Stanley reduced their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, AutoZone 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.