Charles Schwab Investment Management Inc. Purchases 3,053 Shares of AutoZone, Inc. (NYSE:AZO)

Charles Schwab Investment Management Inc. raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 2.9% in the fourth quarter, HoldingsChannel reports. The firm owned 107,718 shares of the company’s stock after buying an additional 3,053 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in AutoZone were worth $344,913,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in AutoZone during the third quarter valued at approximately $36,000. Darwin Wealth Management LLC purchased a new position in shares of AutoZone during the 3rd quarter worth $47,000. Crews Bank & Trust bought a new stake in shares of AutoZone during the 4th quarter valued at $61,000. McIlrath & Eck LLC increased its stake in shares of AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in AutoZone in the 3rd quarter worth $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO opened at $3,569.49 on Thursday. The company has a market cap of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,570.50. The stock’s 50 day simple moving average is $3,351.07 and its two-hundred day simple moving average is $3,223.79.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on AZO. Morgan Stanley boosted their price target on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen boosted their price objective on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Raymond James raised their target price on shares of AutoZone from $3,850.00 to $4,000.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. UBS Group upped their price target on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $3,646.62.

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.