Krane Funds Advisors LLC Takes $1.36 Million Position in AutoZone, Inc. $AZO

Krane Funds Advisors LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 400 shares of the company’s stock, valued at approximately $1,357,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AZO. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the third quarter valued at approximately $25,000. Torren Management LLC bought a new position in shares of AutoZone during the 4th quarter worth approximately $27,000. MCF Advisors LLC boosted its stake in AutoZone by 50.0% in the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in AutoZone in the 3rd quarter valued at $43,000. Finally, Elevated Capital Advisors LLC bought a new stake in AutoZone in the fourth quarter valued at $37,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings raised AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Jefferies Financial Group dropped 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 research report on Wednesday, May 27th. Raymond James Financial reissued a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective on the stock in a research note on Monday, March 9th. Finally, Guggenheim dropped their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,040.87.

AutoZone Price Performance

Shares of AZO opened at $3,116.41 on Monday. The firm has a market capitalization of $51.36 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.58 and a beta of 0.35. The company has a 50-day moving average of $3,393.83 and a 200 day moving average of $3,538.05. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The company’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $35.36 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 150.18 earnings per share for the current fiscal year.

Insider Activity

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the stock in a transaction dated Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the transaction, the director owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.60% of the company’s stock.

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.