Legacy Capital Wealth Partners LLC Buys Shares of 153 AutoZone, Inc. (NYSE:AZO)

Legacy Capital Wealth Partners LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 153 shares of the company's stock, valued at approximately $489,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in AutoZone during the third quarter worth about $36,000. Carolina Wealth Advisors LLC acquired a new position in AutoZone during the third quarter valued at approximately $47,000. Darwin Wealth Management LLC acquired a new stake in shares of AutoZone in the third quarter worth $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone in the 4th quarter valued at $61,000. Finally, 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 purchasing an additional 4 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AZO shares. Wells Fargo & Company upped their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. BMO Capital Markets started coverage on shares of AutoZone in a research note on Friday, December 13th. They set an "outperform" rating and a $3,700.00 price target on the stock. Guggenheim upped their price objective 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 boosted their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an "overweight" rating in a research note on Thursday, January 9th. Finally, Evercore ISI raised their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. One research 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's stock. According to data from MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and an average target price of $3,429.84.

AutoZone Stock Performance

Shares of AZO stock traded up $12.06 during midday trading on Thursday, reaching $3,408.52. 70,978 shares of the company were exchanged, compared to its average volume of 102,466. The company's 50 day moving average price is $3,320.42 and its two-hundred day moving average price is $3,203.12. The company has a market cap of $57.19 billion, a P/E ratio of 22.77, a PEG ratio of 1.87 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,680.96 and a 12 month high of $3,484.42.

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). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $32.55 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.