Carmel Capital Management L.L.C. Lowers Stock Position in AutoZone, Inc. (NYSE:AZO)

Carmel Capital Management L.L.C. lowered its stake in shares of AutoZone, Inc. (NYSE:AZO) by 7.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,508 shares of the company’s stock after selling 200 shares during the period. AutoZone makes up approximately 3.0% of Carmel Capital Management L.L.C.’s investment portfolio, making the stock its 16th largest position. Carmel Capital Management L.L.C.’s holdings in AutoZone were worth $8,031,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in AutoZone in the third quarter valued at $36,000. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone during the third quarter worth about $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the third quarter worth approximately $47,000. McIlrath & Eck LLC raised its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in AutoZone during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AZO. Wells Fargo & Company raised their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Roth Mkm restated a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Barclays lifted their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Truist Financial upped their target price on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Stock Performance

AutoZone stock opened at $3,371.06 on Friday. AutoZone, Inc. has a one year low of $2,672.31 and a one year high of $3,416.71. The company has a market cap of $56.57 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 1.82 and a beta of 0.71. The business has a fifty day moving average of $3,229.64 and a two-hundred day moving average of $3,144.01.

AutoZone (NYSE:AZO) last announced its quarterly earnings data 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 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 earned $32.55 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.