Panoramic Capital Partners LLC Acquires New Shares in AutoZone, Inc. (NYSE:AZO)

Panoramic Capital Partners LLC bought a new position in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 67 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of AutoZone by 354,692.5% during the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after acquiring an additional 993,139 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in AutoZone in the 4th quarter worth about $471,629,000. The Manufacturers Life Insurance Company increased its stake in shares of AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 shares during the period. Canoe Financial LP raised its holdings in shares of AutoZone by 542.8% during the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock valued at $200,032,000 after buying an additional 52,753 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in shares of AutoZone during the third quarter worth approximately $85,127,000. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AZO shares. BMO Capital Markets assumed coverage on AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Evercore ISI upped their price target 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. Truist Financial raised their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group lowered AutoZone from a “buy” rating to a “sell” rating and decreased their price target for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. Finally, Roth Mkm restated a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Trading Up 0.2 %

NYSE:AZO opened at $3,428.09 on Tuesday. The business’s fifty day moving average price is $3,292.17 and its 200 day moving average price is $3,185.47. The firm has a market capitalization of $57.52 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 1-year low of $2,672.31 and a 1-year high of $3,484.42.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $32.55 EPS. Equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.