Empower Advisory Group LLC Increases Stock Position in AutoZone, Inc. (NYSE:AZO)

Empower Advisory Group LLC lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 18.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 124 shares of the company’s stock after purchasing an additional 19 shares during the period. Empower Advisory Group LLC’s holdings in AutoZone were worth $397,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position in shares of AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares during the period. Geode Capital Management LLC lifted its position in shares of 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. lifted its position in shares of 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 lifted its position in shares of 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. Finally, Baillie Gifford & Co. lifted its position in shares of 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. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the subject of several research reports. BMO Capital Markets initiated coverage on shares of AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Mizuho boosted their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial boosted their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Evercore ISI boosted their price objective on shares of 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 investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Price Performance

NYSE:AZO opened at $3,398.16 on Thursday. The firm has a market capitalization of $57.02 billion, a P/E ratio of 22.70, a PEG ratio of 1.91 and a beta of 0.70. AutoZone, Inc. has a 1-year low of $2,680.96 and a 1-year high of $3,484.42. The company’s fifty day moving average price is $3,320.42 and its 200-day moving average price is $3,203.12.

AutoZone (NYSE:AZO) last released its quarterly earnings data 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 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $32.55 EPS. Equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.