Westover Capital Advisors LLC Boosts Stake in AutoZone, Inc. (NYSE:AZO)

Westover Capital Advisors LLC lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 666 shares of the company’s stock after acquiring an additional 56 shares during the quarter. Westover Capital Advisors LLC’s holdings in AutoZone were worth $2,133,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted 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 valued at $1,326,545,000 after buying an additional 7,365 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares in the last quarter. PineStone Asset Management Inc. lifted 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 valued at $683,867,000 after buying an additional 13,771 shares in the last quarter. Marshfield Associates lifted its stake in AutoZone by 0.5% in the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock valued at $534,204,000 after buying an additional 796 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its stake in AutoZone by 35.6% in the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock valued at $522,211,000 after buying an additional 42,776 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

AutoZone stock opened at $3,471.00 on Tuesday. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,519.00. The firm has a 50 day moving average price of $3,341.31 and a 200 day moving average price of $3,219.44. The company has a market capitalization of $58.25 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share 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 company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $32.55 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AZO. Wells Fargo & Company raised their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial increased 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. Barclays increased their price objective on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Evercore ISI increased their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, BMO Capital Markets began coverage on shares of AutoZone in a report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3,442.61.

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.