AutoZone, Inc. (NYSE:AZO) Shares Sold by Carmel Capital Management L.L.C.

Carmel Capital Management L.L.C. trimmed its holdings in AutoZone, Inc. (NYSE:AZO) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,508 shares of the company’s stock after selling 200 shares during the period. AutoZone accounts for about 3.0% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 16th largest position. Carmel Capital Management L.L.C.’s holdings in AutoZone were worth $8,031,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone in the third quarter valued at approximately $36,000. Carolina Wealth Advisors LLC acquired a new stake in AutoZone during the 3rd quarter valued at $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone during the third quarter worth $47,000. McIlrath & Eck LLC raised its holdings in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after acquiring an additional 4 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of AutoZone during the third quarter valued at $66,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Up 1.4 %

Shares of NYSE AZO opened at $3,371.06 on Friday. The firm’s 50-day moving average price is $3,229.64 and its two-hundred day moving average price is $3,144.01. AutoZone, Inc. has a 52-week low of $2,672.31 and a 52-week high of $3,416.71. The stock has a market capitalization of $56.57 billion, a P/E ratio of 22.52, a P/E/G ratio of 1.82 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The firm 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%. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $32.55 EPS. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AZO. BMO Capital Markets started coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price on the stock. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. DA Davidson reiterated a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a research report on Monday, September 30th. Wells Fargo & Company lifted their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, TD Cowen increased their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.