Y Intercept Hong Kong Ltd Has $19.49 Million Stake in AutoZone, Inc. $AZO

Y Intercept Hong Kong Ltd reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 22.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,769 shares of the company’s stock after selling 1,626 shares during the quarter. AutoZone makes up about 0.4% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 23rd biggest holding. Y Intercept Hong Kong Ltd’s holdings in AutoZone were worth $19,486,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AZO. Norges Bank bought a new stake in AutoZone in the 4th quarter valued at $939,205,000. Morgan Stanley boosted its position in AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after purchasing an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after purchasing an additional 61,821 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after purchasing an additional 50,071 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after purchasing an additional 45,212 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Morgan Stanley lowered their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Guggenheim cut 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. Weiss Ratings cut AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. Finally, Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. One equities research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,158.56 on Friday. The firm has a 50-day moving average of $3,257.59 and a 200-day moving average of $3,446.47. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The stock has a market cap of $51.56 billion, a PE ratio of 21.72, a PEG ratio of 1.63 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the firm earned $35.36 earnings per share. AutoZone’s revenue for the quarter was up 8.4% compared to the same quarter last year. Equities research analysts predict that AutoZone, Inc. will post 150.51 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a stock buyback plan on Tuesday, June 16th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

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

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.