Vaughan Nelson Investment Management L.P. Sells 3,153 Shares of AutoZone, Inc. (NYSE:AZO)

Vaughan Nelson Investment Management L.P. reduced its stake in shares of AutoZone, Inc. (NYSE:AZO) by 28.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,929 shares of the company’s stock after selling 3,153 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in AutoZone were worth $25,389,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AZO. CWM LLC grew its position in AutoZone by 27.2% during the 3rd quarter. CWM LLC now owns 435 shares of the company’s stock worth $1,371,000 after purchasing an additional 93 shares during the last quarter. UMB Bank n.a. lifted its position in AutoZone by 17.9% during the third quarter. UMB Bank n.a. now owns 33 shares of the company’s stock valued at $104,000 after purchasing an additional 5 shares during the period. Carnegie Investment Counsel boosted its holdings in AutoZone by 34.5% in the third quarter. Carnegie Investment Counsel now owns 1,120 shares of the company’s stock valued at $3,528,000 after purchasing an additional 287 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in AutoZone by 208.3% during the third quarter. Exchange Traded Concepts LLC now owns 962 shares of the company’s stock worth $3,030,000 after acquiring an additional 650 shares during the period. Finally, Crestmont Private Wealth LLC grew its stake in shares of AutoZone by 8.1% during the 3rd quarter. Crestmont Private Wealth LLC now owns 133 shares of the company’s stock worth $419,000 after purchasing an additional 10 shares during the period. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays increased their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Mizuho raised their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Argus upped their target price on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Roth Mkm reissued a “buy” rating and issued a $3,634.00 price target on shares of AutoZone in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Stock Performance

NYSE:AZO opened at $3,420.42 on Monday. AutoZone, Inc. has a one year low of $2,672.31 and a one year high of $3,484.42. The stock has a market cap of $57.39 billion, a PE ratio of 22.85, a P/E/G ratio of 1.92 and a beta of 0.70. The stock has a 50 day moving average price of $3,292.17 and a 200 day moving average price of $3,183.76.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the company earned $32.55 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.