Y Intercept Hong Kong Ltd Invests $25.08 Million in AutoZone, Inc. $AZO

Y Intercept Hong Kong Ltd purchased a new position in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,395 shares of the company’s stock, valued at approximately $25,080,000. AutoZone accounts for 0.6% of Y Intercept Hong Kong Ltd’s holdings, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of AZO. Norges Bank purchased a new position in AutoZone during the 4th quarter worth $939,205,000. Northwestern Mutual Wealth Management Co. increased its holdings in AutoZone by 387.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in AutoZone by 39.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after purchasing an additional 50,071 shares during the period. AQR Capital Management LLC increased its holdings in AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after purchasing an additional 45,212 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in AutoZone by 401.2% during the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after purchasing an additional 41,467 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

AutoZone stock opened at $3,110.16 on Friday. The stock has a market capitalization of $51.26 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a 1-year low of $2,928.11 and a 1-year high of $4,388.11. The business has a fifty day moving average price of $3,367.14 and a 200-day moving average price of $3,514.38.

AutoZone (NYSE:AZO) last posted its quarterly earnings data 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 negative return on equity of 80.35% and a net margin of 12.40%.The business’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $35.36 EPS. On average, equities research analysts anticipate that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on AZO. BMO Capital Markets reduced their price objective on AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Argus upgraded AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective on the stock in a report on Monday, March 9th. Weiss Ratings upgraded AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Evercore restated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Finally, Roth Mkm reduced their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating on the stock in a report 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 issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insiders Place Their Bets

In other AutoZone news, Director Brian Hannasch acquired 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 directly owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their position. The SEC filing for this sale provides additional information. 2.60% of the stock is owned by company insiders.

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.