Private Advisor Group LLC Decreases Holdings in AutoZone, Inc. (NYSE:AZO)

Private Advisor Group LLC trimmed its position in shares of AutoZone, Inc. (NYSE:AZO) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 560 shares of the company’s stock after selling 17 shares during the period. Private Advisor Group LLC’s holdings in AutoZone were worth $1,793,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares during the period. PineStone Asset Management Inc. increased its stake in AutoZone by 6.9% in the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after purchasing an additional 13,771 shares during the period. Marshfield Associates increased its stake in AutoZone by 0.5% in the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after purchasing an additional 796 shares during the period. Baillie Gifford & Co. increased its stake in AutoZone by 35.6% in the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock worth $522,211,000 after purchasing an additional 42,776 shares during the period. Finally, Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the 4th quarter worth approximately $471,629,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AZO has been the topic of several research reports. Barclays lifted their price target 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. Guggenheim upped 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. Mizuho upped their price target on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. BMO Capital Markets initiated coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. Finally, Evercore ISI upped their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Stock Performance

Shares of AZO stock opened at $3,388.21 on Thursday. The stock has a 50 day moving average price of $3,327.45 and a 200 day moving average price of $3,212.80. The firm has a market capitalization of $56.85 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.86 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,484.42.

AutoZone (NYSE:AZO) last issued its 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). The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $32.55 earnings per share. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

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.