Eagle Rock Investment Company LLC Purchases 501 Shares of AutoZone, Inc. (NYSE:AZO)

Eagle Rock Investment Company LLC boosted its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,254 shares of the company's stock after buying an additional 501 shares during the period. AutoZone makes up approximately 2.3% of Eagle Rock Investment Company LLC's investment portfolio, making the stock its 12th largest position. Eagle Rock Investment Company LLC's holdings in AutoZone were worth $13,620,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of AutoZone by 18.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 49,663 shares of the company's stock valued at $147,204,000 after purchasing an additional 7,908 shares during the last quarter. Moors & Cabot Inc. acquired a new position in AutoZone during the second quarter worth about $282,000. Axxcess Wealth Management LLC lifted its holdings in shares of AutoZone by 12.4% in the second quarter. Axxcess Wealth Management LLC now owns 263 shares of the company's stock worth $780,000 after acquiring an additional 29 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of AutoZone by 4.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,025 shares of the company's stock valued at $8,966,000 after purchasing an additional 133 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of AutoZone by 4.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 386 shares of the company's stock valued at $1,144,000 after purchasing an additional 18 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Performance

Shares of AZO stock traded up $27.10 during mid-day trading on Friday, hitting $3,221.06. The company's stock had a trading volume of 144,277 shares, compared to its average volume of 115,971. AutoZone, Inc. has a 52 week low of $2,658.18 and a 52 week high of $3,416.71. The company's fifty day simple moving average is $3,220.70 and its 200-day simple moving average is $3,130.04. The company has a market cap of $54.06 billion, a PE ratio of 21.52, a P/E/G ratio of 1.80 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $32.55 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 153.09 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an "overweight" rating in a research report on Wednesday, September 25th. Mizuho boosted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. BNP Paribas raised AutoZone to a "strong-buy" rating in a report on Wednesday, September 25th. BMO Capital Markets started coverage on AutoZone in a report on Friday, December 13th. They set an "outperform" rating and a $3,700.00 price target on the stock. Finally, TD Cowen raised their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a "buy" rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $3,429.84.

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.