Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in AutoZone, Inc. (NYSE:AZO)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,083 shares of the company's stock after purchasing an additional 119 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in AutoZone were worth $6,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. increased its position in AutoZone by 18.1% during the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company's stock valued at $141,717,000 after acquiring 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 valued at $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. increased its position in AutoZone by 29.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company's stock valued at $111,455,000 after acquiring an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC increased its position in AutoZone by 1.0% during the fourth quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company's stock valued at $8,460,000 after acquiring an additional 26 shares during the last quarter. Finally, Verde Capital Management purchased a new stake in AutoZone during the third quarter valued at $1,137,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

AutoZone Stock Performance

AZO stock traded down $9.86 during midday trading on Wednesday, reaching $3,435.93. 59,891 shares of the company traded hands, compared to its average volume of 105,839. AutoZone, Inc. has a 52-week low of $2,680.96 and a 52-week high of $3,484.42. The business has a 50 day moving average of $3,302.29 and a 200-day moving average of $3,190.70. The firm has a market capitalization of $57.65 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 1.92 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly 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 business had revenue of $4.28 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the previous year, the company posted $32.55 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AZO. Roth Mkm reiterated a "buy" rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Roth Capital raised AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. Mizuho boosted their price target on AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Evercore ISI boosted their price target on AutoZone from $3,400.00 to $3,450.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, Guggenheim upped their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a "buy" rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $3,429.84.

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.