AutoZone, Inc. (NYSE:AZO) Shares Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC raised its stake in AutoZone, Inc. (NYSE:AZO) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 20,270 shares of the company’s stock after purchasing an additional 917 shares during the period. AutoZone comprises 1.1% of NewEdge Wealth LLC’s portfolio, making the stock its 13th largest holding. NewEdge Wealth LLC’s holdings in AutoZone were worth $64,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. lifted its position in AutoZone by 5.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after acquiring an additional 3 shares during the period. Allworth Financial LP raised its stake in shares of AutoZone by 5.0% during the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock worth $265,000 after purchasing an additional 4 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of AutoZone by 1.5% during the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after purchasing an additional 4 shares during the period. Moors & Cabot Inc. grew its position in AutoZone by 4.2% in the 3rd quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock valued at $312,000 after buying an additional 4 shares during the last quarter. Finally, McIlrath & Eck LLC grew its position in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AZO shares. Argus boosted their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Wells Fargo & Company boosted their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Citigroup raised their price target on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets started coverage on AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective on the stock. Finally, Truist Financial increased their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Price Performance

AZO stock opened at $3,388.21 on Thursday. The company’s 50 day simple moving average is $3,327.45 and its 200-day simple moving average is $3,212.80. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,484.42. The firm has a market capitalization of $56.85 billion, a PE ratio of 22.64, a P/E/G ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its 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 company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $32.55 EPS. As a group, sell-side analysts anticipate 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.