Empire Life Investments Inc. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,076 shares of the company's stock after purchasing an additional 1,468 shares during the quarter. Empire Life Investments Inc.'s holdings in AutoZone were worth $19,455,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Franklin Resources Inc. raised 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 valued at $141,717,000 after buying an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company raised 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 valued at $292,544,000 after buying an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. raised 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 valued at $111,455,000 after buying an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC raised 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 valued at $8,460,000 after buying an additional 26 shares in the last quarter. Finally, Verde Capital Management acquired a new position in shares of AutoZone in the 3rd quarter valued at $1,137,000. Institutional investors and hedge funds own 92.74% of the company's stock.
AutoZone Price Performance
Shares of NYSE AZO traded up $13.73 during mid-day trading on Wednesday, hitting $3,398.16. The company's stock had a trading volume of 84,732 shares, compared to its average volume of 103,451. The stock 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, Inc. has a one year low of $2,680.96 and a one year high of $3,484.42. The company's fifty day simple moving average is $3,319.35 and its 200-day simple moving average is $3,201.75.
AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly 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 firm 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%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $32.55 earnings per share. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on AZO shares. Mizuho increased their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. Evercore ISI increased their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Truist Financial increased their target price on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. BMO Capital Markets started 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, Wells Fargo & Company increased their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $3,429.84.
Get Our Latest Stock Analysis on AZO
AutoZone Company Profile
(
Free Report)
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.
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