AutoZone, Inc. (NYSE:AZO) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC lowered its stake in AutoZone, Inc. (NYSE:AZO) by 4.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 118 shares of the company’s stock after selling 5 shares during the quarter. Portfolio Design Labs LLC’s holdings in AutoZone were worth $378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AZO. International Assets Investment Management LLC raised its position in shares of AutoZone by 354,692.5% during the 3rd 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of AutoZone during the 4th quarter worth about $471,629,000. The Manufacturers Life Insurance Company raised 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 acquiring an additional 60,483 shares in the last quarter. Canoe Financial LP raised its position in shares of AutoZone by 542.8% during the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after acquiring an additional 52,753 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new stake in shares of AutoZone during the 3rd quarter worth about $85,127,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,435.93 on Thursday. AutoZone, Inc. has a 1-year low of $2,680.96 and a 1-year high of $3,484.42. The company has a market cap of $57.65 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70. The stock’s 50 day moving average price is $3,302.29 and its 200 day moving average price is $3,190.70.

AutoZone (NYSE:AZO) last posted its quarterly 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 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 firm earned $32.55 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AZO shares. Evercore ISI raised their target price 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. Guggenheim lifted their price target on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. TD Cowen lifted their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Barclays lifted their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone 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.