Teacher Retirement System of Texas Sells 5,667 Shares of AutoZone, Inc. $AZO

Key Points

• Teacher Retirement System of Texas cut its AutoZone stake by 23%, selling 5,667 shares and leaving 18,975 shares (about 0.11% of the company) valued at roughly $64.35 million per its most recent 13F filing.
• Analysts remain broadly positive: AutoZone has an average rating of "Moderate Buy" with an average price target of $4,312.13 following several target adjustments from major banks.
• Significant insider selling occurred recently, including VP Richard Craig Smith's sale of 5,910 shares for about $21.87 million, while corporate insiders now own 2.60% of the company.

Teacher Retirement System of Texas lessened its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,975 shares of the company's stock after selling 5,667 shares during the period. Teacher Retirement System of Texas owned about 0.11% of AutoZone worth $64,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after acquiring an additional 26,544 shares during the last quarter. PineStone Asset Management Inc. increased its holdings in AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company's stock valued at $912,900,000 after purchasing an additional 3,868 shares during the period. Northern Trust Corp increased its holdings in AutoZone by 1.2% during the 3rd quarter. Northern Trust Corp now owns 189,789 shares of the company's stock valued at $814,240,000 after purchasing an additional 2,333 shares during the period. Marshfield Associates increased its holdings in AutoZone by 3.2% during the 3rd quarter. Marshfield Associates now owns 172,332 shares of the company's stock valued at $739,347,000 after purchasing an additional 5,293 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in AutoZone by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 166,369 shares of the company's stock valued at $713,763,000 after purchasing an additional 747 shares during the period. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barclays boosted their price target on AutoZone from $3,800.00 to $3,900.00 and gave the company an "overweight" rating in a report on Wednesday, March 4th. Truist Financial reduced their price target on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. JPMorgan Chase & Co. boosted their price target on AutoZone from $4,100.00 to $4,300.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Mizuho boosted their price target on AutoZone from $3,550.00 to $3,600.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Finally, BMO Capital Markets reduced their price target on AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone presently has an average rating of "Moderate Buy" and an average target price of $4,312.13.

AutoZone Stock Down 0.4%

AutoZone stock opened at $3,590.60 on Thursday. The company has a market capitalization of $59.17 billion, a P/E ratio of 25.15, a PEG ratio of 1.85 and a beta of 0.41. The stock's 50 day moving average is $3,568.38 and its 200 day moving average is $3,650.69. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to analysts' expectations of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $28.29 EPS. As a group, equities analysts expect that AutoZone, Inc. will post 148.93 EPS for the current year.

Insider Activity at AutoZone

In related news, VP Richard Craig Smith sold 5,910 shares of the company's stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares of the company's stock, valued at approximately $9,719,900. This represents a 69.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 value of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at $16,826,568.64. This trade represents a 1.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 2.60% of the company's stock.

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.

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