AutoZone, Inc. (NYSE:AZO) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC lifted its position in AutoZone, Inc. (NYSE:AZO) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,270 shares of the company’s stock after acquiring an additional 917 shares during the period. AutoZone accounts for approximately 1.1% of NewEdge Wealth LLC’s investment portfolio, making the stock its 13th biggest holding. NewEdge Wealth LLC owned about 0.12% of AutoZone worth $64,903,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its position in AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after buying an additional 3 shares in the last quarter. Allworth Financial LP grew its holdings in AutoZone by 5.0% in the 3rd quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after buying an additional 4 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in shares of AutoZone by 1.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after acquiring an additional 4 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of AutoZone by 4.2% during the 3rd quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock worth $312,000 after acquiring an additional 4 shares during the period. Finally, McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.1 %

AutoZone stock opened at $3,388.21 on Thursday. The company has a fifty day simple moving average of $3,327.45 and a 200-day simple moving average of $3,212.80. The stock has a market cap of $56.85 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,484.42.

AutoZone (NYSE:AZO) last announced 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 business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $32.55 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on AZO. 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. Barclays lifted 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. Wells Fargo & Company increased their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup lifted their target price on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report 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 report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.