147,292 Shares in AutoZone, Inc. (NYSE:AZO) Purchased by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 147,292 shares of the company’s stock, valued at approximately $471,629,000. AutoZone makes up 0.9% of Strategic Financial Concepts LLC’s portfolio, making the stock its 22nd biggest position.

A number of other large investors also recently bought and sold shares of the stock. Franklin Resources Inc. lifted its stake in shares of AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after purchasing an additional 6,898 shares during the period. The Manufacturers Life Insurance Company increased its holdings in AutoZone by 186.8% in the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after buying an additional 60,483 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of AutoZone by 29.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after acquiring an additional 7,922 shares during the period. Silverleafe Capital Partners LLC boosted its stake in shares of AutoZone by 1.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock worth $8,460,000 after acquiring an additional 26 shares in the last quarter. Finally, Verde Capital Management purchased a new position in shares of AutoZone in the 3rd quarter valued at about $1,137,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AZO. Roth Capital upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. Mizuho increased their target price on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Evercore ISI boosted their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report 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. Finally, Citigroup boosted their target price 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. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Performance

NYSE AZO opened at $3,466.41 on Friday. AutoZone, Inc. has a fifty-two week low of $2,672.31 and a fifty-two week high of $3,484.42. The firm has a market capitalization of $58.17 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 1.85 and a beta of 0.70. The stock’s fifty day moving average is $3,281.77 and its two-hundred day moving average is $3,176.72.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the company posted $32.55 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current 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.