Teacher Retirement System of Texas Boosts Holdings in AutoZone, Inc. $AZO

Teacher Retirement System of Texas boosted its stake in AutoZone, Inc. (NYSE:AZO) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,642 shares of the company’s stock after acquiring an additional 323 shares during the period. AutoZone comprises approximately 0.4% of Teacher Retirement System of Texas’ portfolio, making the stock its 29th largest position. Teacher Retirement System of Texas owned approximately 0.15% of AutoZone worth $105,720,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Aspect Partners LLC boosted its position in shares of AutoZone by 700.0% in the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares during the period. Global Trust Asset Management LLC increased its position in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares during the period. Bank of Jackson Hole Trust purchased a new stake in AutoZone in the second quarter valued at approximately $33,000. NewSquare Capital LLC boosted its holdings in shares of AutoZone by 50.0% in the second 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. Finally, Loomis Sayles & Co. L P purchased a new position in shares of AutoZone during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction dated 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 sale, the director owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the transaction, the senior vice president owned 416 shares in the company, valued at $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 347 shares of company stock worth $1,179,256 and have sold 3,837 shares worth $13,445,423. 2.60% of the stock is owned by company insiders.

AutoZone Price Performance

AZO opened at $3,692.15 on Friday. 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 $61.18 billion, a P/E ratio of 25.75, a P/E/G ratio of 1.75 and a beta of 0.42. The business has a 50 day simple moving average of $3,588.83 and a 200-day simple moving average of $3,848.33.

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

AutoZone declared that its board has initiated a stock repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

AZO has been the subject of several research reports. BNP Paribas Exane reduced their price target on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Truist Financial lowered their price target on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Evercore ISI reaffirmed an “outperform” rating and set a $4,100.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Zacks Research raised AutoZone from a “strong sell” rating to a “hold” rating in a research report on Monday, November 24th. Finally, Guggenheim dropped their target price on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,285.00.

AutoZone 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.