AutoZone, Inc. (NYSE:AZO) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 118 shares of the company’s stock after selling 5 shares during the quarter. Portfolio Design Labs LLC’s holdings in AutoZone were worth $378,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in shares of AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after acquiring an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of 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 acquiring an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of AutoZone by 29.5% in the 4th 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 increased its stake in shares of AutoZone by 1.0% in the 4th 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 acquired a new stake in shares of AutoZone in the 3rd quarter worth $1,137,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,435.93 on Thursday. The business has a 50-day moving average of $3,302.29 and a 200 day moving average of $3,190.70. AutoZone, Inc. has a 12 month low of $2,680.96 and a 12 month high of $3,484.42. The stock has a market capitalization of $57.65 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $32.55 EPS. Equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AZO. Wells Fargo & Company raised their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Barclays raised their target price 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. Roth Mkm reiterated a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a report on Wednesday, October 16th. Evercore ISI increased their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Finally, Guggenheim increased their price target on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” 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 stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.