Van ECK Associates Corp Purchases 270 Shares of AutoZone, Inc. (NYSE:AZO)

Van ECK Associates Corp lifted its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,638 shares of the company's stock after acquiring an additional 270 shares during the quarter. Van ECK Associates Corp's holdings in AutoZone were worth $8,447,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in shares of AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock worth $141,717,000 after acquiring an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after acquiring an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company's stock worth $111,455,000 after acquiring an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC grew its stake in shares of AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company's stock worth $8,460,000 after acquiring an additional 26 shares in the last quarter. Finally, Verde Capital Management bought a new stake in shares of AutoZone in the 3rd quarter worth $1,137,000. Institutional investors own 92.74% of the company's stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of several research reports. Argus increased their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a "buy" rating in a research report on Thursday, January 2nd. Guggenheim increased their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Barclays increased their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a research report on Thursday, January 9th. BMO Capital Markets began coverage on shares of AutoZone in a research report on Friday, December 13th. They set an "outperform" rating and a $3,700.00 target price for the company. Finally, TD Cowen increased their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $3,429.84.

AutoZone Stock Performance

AZO traded up $12.06 on Thursday, reaching $3,408.52. The company had a trading volume of 70,978 shares, compared to its average volume of 102,466. The business has a 50 day simple moving average of $3,320.42 and a 200 day simple moving average of $3,203.12. The company has a market cap of $57.19 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 1.87 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42.

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

AutoZone Company Profile

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.