Bancreek Capital Management LP Has $953,000 Holdings in AutoZone, Inc. $AZO

Bancreek Capital Management LP cut its position in shares of AutoZone, Inc. (NYSE:AZO) by 66.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 281 shares of the company’s stock after selling 552 shares during the period. AutoZone comprises 4.0% of Bancreek Capital Management LP’s holdings, making the stock its 11th largest position. Bancreek Capital Management LP’s holdings in AutoZone were worth $953,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of AutoZone in the fourth quarter valued at $939,205,000. Northwestern Mutual Wealth Management Co. raised its position in AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after buying an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in AutoZone by 39.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock worth $584,730,000 after acquiring an additional 50,071 shares in the last quarter. AQR Capital Management LLC lifted its stake in AutoZone by 80.8% in the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after acquiring an additional 45,212 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position 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 acquiring an additional 41,467 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 165 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the acquisition, the director 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 the SEC website. Also, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company’s stock.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,065.75 on Thursday. The firm has a market cap of $50.52 billion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.54 and a beta of 0.35. AutoZone, Inc. has a 52-week low of $2,928.11 and a 52-week high of $4,388.11. The stock has a 50-day simple moving average of $3,404.49 and a 200-day simple moving average of $3,548.74.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, topping analysts’ consensus estimates of $36.22 by $1.85. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 77.83% and a net margin of 12.40%.The firm’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $35.36 earnings per share. As a group, equities research analysts predict that AutoZone, Inc. will post 150.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZO. Barclays lifted their target price on AutoZone from $3,800.00 to $3,900.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Argus raised shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price target for the company in a research report on Monday, March 9th. BNP Paribas Exane decreased their price target on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. BMO Capital Markets lowered their price objective on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Finally, UBS Group set a $4,800.00 target price on shares of AutoZone in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4,040.87.

About AutoZone

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.