Louisiana State Employees Retirement System Acquires New Stake in AutoZone, Inc. $AZO

Louisiana State Employees Retirement System bought a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 800 shares of the company’s stock, valued at approximately $2,702,000.

Other institutional investors have also modified their holdings of the company. KCM Investment Advisors LLC boosted its holdings in AutoZone by 0.3% during the third quarter. KCM Investment Advisors LLC now owns 1,153 shares of the company’s stock worth $4,947,000 after buying an additional 3 shares in the last quarter. Angeles Wealth Management LLC grew its stake in AutoZone by 3.2% in the third quarter. Angeles Wealth Management LLC now owns 97 shares of the company’s stock valued at $416,000 after purchasing an additional 3 shares in the last quarter. Blair William & Co. IL grew its position in AutoZone by 0.3% in the third quarter. Blair William & Co. IL now owns 1,108 shares of the company’s stock worth $4,753,000 after acquiring an additional 3 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of AutoZone by 0.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 518 shares of the company’s stock worth $2,222,000 after acquiring an additional 3 shares in the last quarter. Finally, Second Line Capital LLC grew its stake in AutoZone by 2.0% in the 3rd quarter. Second Line Capital LLC now owns 153 shares of the company’s stock valued at $656,000 after buying an additional 3 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Hannasch acquired 165 shares of AutoZone stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $3,127.52 on Monday. The company has a 50-day simple moving average of $3,288.33 and a 200 day simple moving average of $3,454.36. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The company has a market capitalization of $51.07 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.59 and a beta of 0.35.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the business posted $35.36 earnings per share. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts forecast that AutoZone, Inc. will post 150.51 earnings per share for the current year.

AutoZone declared that its Board of Directors has initiated a share buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Roth Mkm dropped their price objective on shares of AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Jefferies Financial Group lowered their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Guggenheim lowered their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. UBS Group set a $4,800.00 target price on AutoZone in a research report on Tuesday, March 3rd. Finally, Robert W. Baird decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.