AutoZone, Inc. (NYSE:AZO) Stock Position Lowered by Ritholtz Wealth Management

Ritholtz Wealth Management cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,186 shares of the company’s stock after selling 17 shares during the period. Ritholtz Wealth Management’s holdings in AutoZone were worth $3,798,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Franklin Resources Inc. grew its stake in AutoZone by 18.1% in the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after purchasing an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Silverleafe Capital Partners LLC lifted its position in shares of AutoZone by 1.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after purchasing an additional 26 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after acquiring an additional 7,922 shares in the last quarter. Finally, Verde Capital Management acquired a new position in AutoZone in the 3rd quarter valued at approximately $1,137,000. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Price Performance

AutoZone stock opened at $3,193.97 on Friday. AutoZone, Inc. has a one year low of $2,655.75 and a one year high of $3,416.71. The business has a fifty day moving average price of $3,219.83 and a 200-day moving average price of $3,129.60. The firm has a market capitalization of $53.59 billion, a P/E ratio of 21.34, a PEG ratio of 1.80 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data 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). 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 last year, the business posted $32.55 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 153.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AZO. Wedbush reissued an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Barclays increased their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Evercore ISI raised their price target on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets assumed coverage on AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective on the stock. One equities research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.