Kentucky Retirement Systems Purchases 1,761 Shares of AutoZone, Inc. $AZO

Kentucky Retirement Systems grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 167.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,810 shares of the company’s stock after purchasing an additional 1,761 shares during the quarter. Kentucky Retirement Systems’ holdings in AutoZone were worth $9,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Jupiter Asset Management Ltd. purchased a new position in AutoZone during the 4th quarter valued at approximately $1,808,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in AutoZone by 15.2% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 14,224 shares of the company’s stock valued at $48,241,000 after acquiring an additional 1,882 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of AutoZone by 67.1% in the fourth quarter. CIBC Asset Management Inc now owns 3,941 shares of the company’s stock valued at $13,366,000 after acquiring an additional 1,582 shares during the period. Asset Advisors Investment Management LLC boosted its stake in shares of AutoZone by 13.6% during the 4th quarter. Asset Advisors Investment Management LLC now owns 2,699 shares of the company’s stock worth $9,154,000 after purchasing an additional 323 shares during the period. Finally, Norges Bank purchased a new stake in AutoZone in the 4th quarter worth about $939,205,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Roth Capital dropped their target price on 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. Mizuho cut their price objective on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. BNP Paribas Exane reduced their target price on 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. Morgan Stanley lowered their target price 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. Finally, Jefferies Financial Group lowered 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 research 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 issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch bought 165 shares of the company’s stock in a transaction on Friday, May 29th. The shares were bought at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

AutoZone Trading Up 0.9%

Shares of AZO stock opened at $3,147.02 on Thursday. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The stock has a market capitalization of $51.39 billion, a price-to-earnings ratio of 21.64, a P/E/G ratio of 1.58 and a beta of 0.33. The stock has a fifty day simple moving average of $3,085.63 and a two-hundred day simple moving average of $3,399.22.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $35.36 EPS. Research analysts predict that AutoZone, Inc. will post 150.39 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has initiated a stock buyback plan on Tuesday, June 16th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the company to purchase 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.

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.