Weaver Capital Management LLC Acquires 43 Shares of AutoZone, Inc. (NYSE:AZO)

Weaver Capital Management LLC grew its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,142 shares of the company’s stock after buying an additional 43 shares during the period. AutoZone accounts for approximately 1.0% of Weaver Capital Management LLC’s holdings, making the stock its 24th biggest position. Weaver Capital Management LLC’s holdings in AutoZone were worth $3,658,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in AutoZone by 186.8% in the 3rd 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 during the last quarter. Canoe Financial LP raised its position in AutoZone by 542.8% in the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after buying an additional 52,753 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in AutoZone in the 3rd quarter worth about $85,127,000. Finally, Erste Asset Management GmbH purchased a new position in AutoZone in the 3rd quarter worth about $63,379,000. Institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target for the company. Guggenheim upped their price target 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. Truist Financial upped their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Stock Performance

NYSE:AZO opened at $3,463.48 on Wednesday. The stock’s fifty day moving average is $3,269.67 and its 200 day moving average is $3,171.01. AutoZone, Inc. has a fifty-two week low of $2,672.31 and a fifty-two week high of $3,475.10. The firm has a market capitalization of $58.12 billion, a PE ratio of 23.14, a PEG ratio of 1.85 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 business earned $32.55 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone Company 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.