AutoZone, Inc. (NYSE:AZO) Position Lifted by PineStone Asset Management Inc.

PineStone Asset Management Inc. increased its position in AutoZone, Inc. (NYSE:AZO) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,575 shares of the company’s stock after purchasing an additional 13,771 shares during the quarter. AutoZone makes up about 6.4% of PineStone Asset Management Inc.’s portfolio, making the stock its 5th biggest position. PineStone Asset Management Inc. owned approximately 1.27% of AutoZone worth $683,867,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IVC Wealth Advisors LLC grew its holdings in shares of AutoZone by 4.4% during the 3rd quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock worth $299,000 after purchasing an additional 4 shares during the period. Allworth Financial LP grew its position 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 buying an additional 4 shares in the last quarter. Axxcess Wealth Management LLC increased its position in shares of AutoZone by 1.5% in the 3rd quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after purchasing an additional 4 shares during the last quarter. Moors & Cabot Inc. raised its stake in AutoZone by 4.2% in the third quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock valued at $312,000 after buying an additional 4 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

AZO opened at $3,461.94 on Friday. The business has a fifty day simple moving average of $3,312.82 and a 200 day simple moving average of $3,194.34. 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 capitalization of $58.09 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 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 firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm earned $32.55 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. TD Cowen raised their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Truist Financial raised their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company upped their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Barclays lifted 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. Finally, Citigroup lifted their price target on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One 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 company. According to data from MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and an average target price 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.