Krane Funds Advisors LLC Makes New $1.36 Million Investment in AutoZone, Inc. $AZO

Krane Funds Advisors LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, HoldingsChannel reports. The fund purchased 400 shares of the company’s stock, valued at approximately $1,357,000.

A number of other institutional investors have also modified their holdings of AZO. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of AutoZone by 6.6% in the third quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company’s stock worth $21,315,000 after acquiring an additional 306 shares during the period. Numerai GP LLC lifted its position in AutoZone by 1,199.3% during the third quarter. Numerai GP LLC now owns 1,754 shares of the company’s stock valued at $7,525,000 after purchasing an additional 1,619 shares during the period. Caprock Group LLC purchased a new stake in AutoZone in the third quarter valued at $4,049,000. Jupiter Asset Management Ltd. acquired a new stake in AutoZone during the 4th quarter worth about $1,808,000. Finally, ANTIPODES PARTNERS Ltd grew its position in AutoZone by 185.7% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 640 shares of the company’s stock worth $2,746,000 after purchasing an additional 416 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of the company’s stock in a transaction 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Mkm decreased their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Citigroup decreased their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Barclays raised their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. UBS Group set a $4,800.00 target price on shares of AutoZone in a report on Tuesday, March 3rd. Finally, Weiss Ratings upgraded shares of AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research note 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 assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

AutoZone Stock Down 0.0%

AZO stock opened at $3,116.41 on Monday. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The firm has a 50-day simple moving average of $3,393.83 and a 200-day simple moving average of $3,538.05. The stock has a market capitalization of $51.36 billion, a P/E ratio of 21.43, a P/E/G ratio of 1.58 and a beta of 0.35.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the firm posted $35.36 EPS. AutoZone’s revenue was up 8.4% compared to the same quarter last year. On average, analysts expect that AutoZone, Inc. will post 150.18 earnings per share for the current year.

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.