Canoe Financial LP Purchases 52,753 Shares of AutoZone, Inc. (NYSE:AZO)

Canoe Financial LP boosted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 542.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,471 shares of the company's stock after buying an additional 52,753 shares during the quarter. AutoZone accounts for about 2.9% of Canoe Financial LP's investment portfolio, making the stock its 8th largest position. Canoe Financial LP owned approximately 0.37% of AutoZone worth $200,032,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AZO. Capital Performance Advisors LLP purchased a new position in AutoZone in the 3rd quarter worth about $36,000. Carolina Wealth Advisors LLC purchased a new position in shares of AutoZone during the third quarter valued at $47,000. Darwin Wealth Management LLC purchased a new stake in AutoZone in the 3rd quarter worth about $47,000. McIlrath & Eck LLC boosted its position in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company's stock worth $63,000 after acquiring an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in AutoZone during the 3rd quarter valued at about $66,000. Institutional investors own 92.74% of the company's stock.

AutoZone Price Performance

Shares of NYSE AZO traded up $27.10 during trading hours on Friday, hitting $3,221.06. 144,277 shares of the company's stock were exchanged, compared to its average volume of 105,718. The company's 50-day moving average price is $3,222.90 and its 200-day moving average price is $3,134.62. AutoZone, Inc. has a 1-year low of $2,658.18 and a 1-year high of $3,416.71. The stock has a market capitalization of $54.05 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.80 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share 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 the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $32.55 earnings per share. On average, research analysts expect that AutoZone, Inc. will post 153.09 earnings per share for the current year.

Wall Street Analyst Weigh In

AZO has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Mizuho boosted their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Redburn Atlantic raised AutoZone to a "strong-buy" rating in a research report on Tuesday, October 1st. Finally, Roth Capital raised AutoZone to a "strong-buy" rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, AutoZone has an average rating of "Moderate Buy" and a consensus target price of $3,429.84.

AutoZone 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.