Y Intercept Hong Kong Ltd Makes New Investment in AutoZone, Inc. $AZO

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in AutoZone by 6.3% in the second quarter. Lazard Asset Management LLC now owns 51 shares of the company’s stock valued at $189,000 after buying an additional 3 shares in the last quarter. Assetmark Inc. increased its holdings in AutoZone by 1.4% in the third quarter. Assetmark Inc. now owns 212 shares of the company’s stock valued at $908,000 after buying an additional 3 shares in the last quarter. Camden National Bank increased its holdings in AutoZone by 3.6% in the third quarter. Camden National Bank now owns 86 shares of the company’s stock valued at $369,000 after buying an additional 3 shares in the last quarter. Crestwood Advisors Group LLC increased its holdings in AutoZone by 1.7% in the third quarter. Crestwood Advisors Group LLC now owns 184 shares of the company’s stock valued at $791,000 after buying an additional 3 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in AutoZone by 1.3% in the third quarter. Bridgewater Advisors Inc. now owns 229 shares of the company’s stock valued at $982,000 after buying an additional 3 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of a number of research analyst reports. Evercore reaffirmed an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a report on Tuesday, March 10th. BMO Capital Markets dropped their target price on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. JPMorgan Chase & Co. dropped their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Finally, Mizuho dropped their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a “neutral” 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 issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4,040.87.

AutoZone Stock Performance

AZO stock opened at $3,110.16 on Friday. The stock has a market capitalization of $51.26 billion, a P/E ratio of 21.38, a PEG ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a one year low of $2,928.11 and a one year high of $4,388.11. The company has a 50 day moving average price of $3,367.14 and a two-hundred day moving average price of $3,514.38.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping the consensus estimate 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 net margin of 12.40% and a negative return on equity of 80.35%. AutoZone’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the company earned $35.36 EPS. Research analysts forecast that AutoZone, Inc. will post 150.45 earnings per share for the current fiscal year.

Insider Activity at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone 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 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 approximately $16,826,568.64. The trade was a 1.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Hannasch bought 165 shares of the stock in a transaction on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. This trade represents a 15.65% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.60% of the stock is currently owned by 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.