New York Life Investment Management LLC Decreases Stock Position in AutoZone, Inc. (NYSE:AZO)

New York Life Investment Management LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,268 shares of the company’s stock after selling 261 shares during the quarter. New York Life Investment Management LLC’s holdings in AutoZone were worth $7,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of AZO. Capital Performance Advisors LLP purchased a new stake in AutoZone in the third quarter worth $36,000. Darwin Wealth Management LLC bought a new position in shares of AutoZone in the third quarter worth $47,000. Crews Bank & Trust bought a new position in shares of AutoZone in the fourth quarter worth $61,000. McIlrath & Eck LLC boosted its holdings in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of AutoZone in the third quarter worth $66,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Trading Up 1.2 %

AZO opened at $3,484.56 on Friday. The stock has a 50-day moving average price of $3,336.73 and a 200-day moving average price of $3,216.77. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,500.00. The stock has a market capitalization of $58.47 billion, a P/E ratio of 23.28, a PEG ratio of 1.86 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 net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm posted $32.55 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AZO shares. Citigroup raised their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen raised their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company raised their price target on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Barclays raised their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, Guggenheim lifted their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,442.61.

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.