AutoZone, Inc. (NYSE:AZO) Shares Bought by PineStone Asset Management Inc.

PineStone Asset Management Inc. raised its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 213,575 shares of the company's stock after purchasing an additional 13,771 shares during the period. AutoZone comprises about 6.4% of PineStone Asset Management Inc.'s portfolio, making the stock its 5th largest holding. PineStone Asset Management Inc. owned approximately 1.27% of AutoZone worth $683,867,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company's stock worth $31,293,100,000 after acquiring an additional 993,139 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company's stock worth $1,326,545,000 after acquiring an additional 7,365 shares during the period. Marshfield Associates increased its holdings in shares of AutoZone by 0.5% in the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company's stock worth $534,204,000 after acquiring an additional 796 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone in the 4th quarter worth about $471,629,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of AutoZone by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company's stock worth $329,699,000 after acquiring an additional 466 shares during the period. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of analyst reports. Argus increased their price objective on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a "buy" rating in a report on Thursday, January 2nd. Barclays increased their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a report on Thursday, January 9th. Evercore ISI increased their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a report on Wednesday, December 11th. Wells Fargo & Company raised their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, TD Cowen raised their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $3,429.84.

AutoZone Stock Performance

Shares of NYSE:AZO traded up $13.73 during trading hours on Wednesday, hitting $3,398.16. 84,732 shares of the company's stock traded hands, compared to its average volume of 103,451. AutoZone, Inc. has a 52 week low of $2,680.96 and a 52 week high of $3,484.42. The company's fifty day simple moving average is $3,319.35 and its two-hundred day simple moving average is $3,201.75. The company has a market cap of $57.02 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.91 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business earned $32.55 earnings per share. The business's quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.