Sage Investment Counsel LLC Takes $656,000 Position in AutoZone, Inc. (NYSE:AZO)

Sage Investment Counsel LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 205 shares of the company’s stock, valued at approximately $656,000.

Several other large investors have also recently made changes to their positions in the business. SVB Wealth LLC purchased a new stake in shares of AutoZone during the 4th quarter valued at $439,000. Proficio Capital Partners LLC increased its position in shares of AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of AutoZone by 0.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 3,472 shares of the company’s stock valued at $11,117,000 after purchasing an additional 11 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in AutoZone by 1.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 6,900 shares of the company’s stock worth $22,094,000 after acquiring an additional 100 shares during the last quarter. Finally, Stegent Equity Advisors Inc. increased its holdings in AutoZone by 24.7% in the 4th quarter. Stegent Equity Advisors Inc. now owns 106 shares of the company’s stock worth $339,000 after acquiring an additional 21 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AZO shares. Guggenheim lifted their price objective on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Mizuho lifted their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. Finally, Argus lifted their price objective on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,442.61.

AutoZone Trading Up 1.2 %

Shares of AZO opened at $3,484.56 on Friday. The company has a market cap of $58.47 billion, a PE ratio of 23.28, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. 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.

AutoZone (NYSE:AZO) last issued 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 the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $32.55 EPS. As a group, analysts predict that AutoZone, Inc. will post 152.94 earnings per share 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.