Fifth Third Wealth Advisors LLC Raises Stock Position in AutoZone, Inc. (NYSE:AZO)

Fifth Third Wealth Advisors LLC raised its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 56.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 249 shares of the company's stock after purchasing an additional 90 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in AutoZone were worth $797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in shares of AutoZone by 18.1% in the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock worth $141,717,000 after buying an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock valued at $292,544,000 after acquiring an additional 60,483 shares during the period. Silverleafe Capital Partners LLC boosted its position in 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 purchasing an additional 26 shares in the last quarter. Verde Capital Management acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $1,137,000. Finally, Mizuho Securities USA LLC increased its holdings in shares of AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company's stock valued at $29,012,000 after purchasing an additional 7,879 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group increased their price target on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. 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 note on Wednesday, December 11th. Wells Fargo & Company raised their target price on AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Citigroup upped their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Roth Mkm reiterated a "buy" rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, AutoZone presently has an average rating of "Moderate Buy" and an average price target of $3,429.84.

AutoZone Price Performance

AZO traded down $12.08 on Thursday, reaching $3,193.97. 110,133 shares of the company's stock were exchanged, compared to its average volume of 113,143. The stock has a market cap of $53.59 billion, a PE ratio of 21.34, a P/E/G ratio of 1.80 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,655.75 and a twelve month high of $3,416.71. The stock's fifty day moving average price is $3,219.83 and its 200-day moving average price is $3,129.60.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm earned $32.55 earnings per share. The company's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts predict that AutoZone, Inc. will post 153.09 earnings per share 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.