Strategic Financial Concepts LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 147,292 shares of the company's stock, valued at approximately $471,629,000. AutoZone makes up about 14.5% of Strategic Financial Concepts LLC's portfolio, making the stock its biggest position. Strategic Financial Concepts LLC owned approximately 0.88% of AutoZone as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its position in shares of AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock worth $141,717,000 after purchasing an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after buying an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of AutoZone by 29.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company's stock worth $111,455,000 after acquiring an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC raised its holdings in shares of AutoZone by 1.0% in the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company's stock worth $8,460,000 after acquiring an additional 26 shares during the last quarter. Finally, Verde Capital Management purchased a new stake in shares of AutoZone in the third quarter valued at $1,137,000. Institutional investors and hedge funds own 92.74% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on AZO. Barclays boosted their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a research note on Thursday, January 9th. Guggenheim lifted their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Evercore ISI lifted 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 note on Wednesday, December 11th. Finally, Truist Financial increased their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $3,429.84.
Get Our Latest Research Report on AutoZone
AutoZone Price Performance
NYSE:AZO traded up $13.73 during midday trading on Wednesday, reaching $3,398.16. 84,732 shares of the company traded hands, compared to its average volume of 103,451. The firm has a market capitalization 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. The company has a fifty day moving average price of $3,319.35 and a 200 day moving average price of $3,201.75. AutoZone, Inc. has a twelve month low of $2,680.96 and a twelve month high of $3,484.42.
AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $32.55 EPS. On average, equities research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.
About AutoZone
(
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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