Kentucky Retirement Systems Insurance Trust Fund Buys 699 Shares of AutoZone, Inc. (NYSE:AZO)

Kentucky Retirement Systems Insurance Trust Fund boosted its stake in AutoZone, Inc. (NYSE:AZO) by 138.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,205 shares of the company’s stock after purchasing an additional 699 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in AutoZone were worth $3,858,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AZO. International Assets Investment Management LLC grew its holdings in AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of AutoZone in the 4th quarter valued at $471,629,000. The Manufacturers Life Insurance Company increased its position in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after buying an additional 60,483 shares in the last quarter. Canoe Financial LP raised its stake in AutoZone by 542.8% during the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after buying an additional 52,753 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in AutoZone by 35.6% during the fourth quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock worth $522,211,000 after acquiring an additional 42,776 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

Shares of AZO stock opened at $3,461.94 on Tuesday. The company has a fifty day moving average price of $3,315.89 and a two-hundred day moving average price of $3,198.06. AutoZone, Inc. has a one year low of $2,680.96 and a one year high of $3,484.42. The stock has a market cap of $58.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.92 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $32.55 earnings per share. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AZO shares. Barclays increased their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Argus raised their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Wells Fargo & Company upped their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective on the stock. Finally, Citigroup upped their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.