MKT Advisors LLC Increases Stake in AutoZone, Inc. (NYSE:AZO)

MKT Advisors LLC lifted its position in AutoZone, Inc. (NYSE:AZO) by 20.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257 shares of the company’s stock after acquiring an additional 44 shares during the period. MKT Advisors LLC’s holdings in AutoZone were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Franklin Resources Inc. grew its position in shares of AutoZone by 18.1% during the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after acquiring an additional 6,898 shares during the period. The Manufacturers Life Insurance Company boosted its stake in 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 purchasing an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in AutoZone by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after acquiring an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC raised its holdings in AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after acquiring an additional 26 shares during the last quarter. Finally, Verde Capital Management acquired a new stake in shares of AutoZone in the third quarter valued at approximately $1,137,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AZO. Argus lifted their target price 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. Citigroup upped their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Roth Mkm reaffirmed a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. Evercore ISI lifted their target price on AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Truist Financial raised their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,328.28 on Friday. AutoZone, Inc. has a 1-year low of $2,672.31 and a 1-year high of $3,416.71. The company has a market capitalization of $55.85 billion, a P/E ratio of 22.24, a PEG ratio of 1.84 and a beta of 0.71. The business’s fifty day moving average price is $3,238.73 and its two-hundred day moving average price is $3,149.01.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $32.55 EPS. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.