Elm3 Financial Group LLC Invests $448,000 in AutoZone, Inc. (NYSE:AZO)

Elm3 Financial Group LLC acquired a new position in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 140 shares of the company’s stock, valued at approximately $448,000.

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

AutoZone Stock Up 0.6 %

NYSE:AZO opened at $3,478.43 on Thursday. AutoZone, Inc. has a twelve month low of $2,672.31 and a twelve month high of $3,481.36. The company has a market cap of $58.37 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70. The business has a 50 day moving average price of $3,275.98 and a two-hundred day moving average price of $3,174.59.

AutoZone (NYSE:AZO) last announced its 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the company posted $32.55 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of analyst reports. Guggenheim increased their price target on AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Truist Financial raised their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Evercore ISI boosted their target price on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Citigroup lifted their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Roth Capital raised shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. One investment 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. According to MarketBeat, AutoZone currently 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.