Meyer Handelman Co. Acquires 161 Shares of AutoZone, Inc. (NYSE:AZO)

Meyer Handelman Co. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,105 shares of the company’s stock after purchasing an additional 161 shares during the period. Meyer Handelman Co.’s holdings in AutoZone were worth $6,740,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC increased its stake in shares of AutoZone by 7.2% in the 4th quarter. Park Avenue Securities LLC now owns 179 shares of the company’s stock valued at $573,000 after buying an additional 12 shares during the period. Kathmere Capital Management LLC lifted its position in AutoZone by 7.2% during the 4th quarter. Kathmere Capital Management LLC now owns 254 shares of the company’s stock valued at $813,000 after purchasing an additional 17 shares during the period. Assenagon Asset Management S.A. lifted its position in AutoZone by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after purchasing an additional 7,922 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of AutoZone by 56.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 249 shares of the company’s stock valued at $797,000 after purchasing an additional 90 shares during the last quarter. Finally, Crestmont Private Wealth LLC grew its position in shares of AutoZone by 4.5% during the 4th quarter. Crestmont Private Wealth LLC now owns 139 shares of the company’s stock worth $445,000 after buying an additional 6 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the topic of a number of recent research reports. Guggenheim raised 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 note on Wednesday, December 11th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Roth Mkm restated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. BMO Capital Markets started coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price target for the company. Finally, Barclays increased their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. One 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 given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Stock Performance

NYSE AZO opened at $3,224.60 on Wednesday. The stock has a market capitalization of $54.12 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a 52 week low of $2,575.00 and a 52 week high of $3,416.71. The stock’s 50 day moving average price is $3,219.74 and its two-hundred day moving average price is $3,129.05.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The business had revenue of $4.28 billion during 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $32.55 EPS. On average, equities research analysts forecast that AutoZone, Inc. will post 154.29 EPS for the current 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.