Prasad Wealth Partners LLC Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Prasad Wealth Partners LLC acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 135 shares of the company’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP grew its position in AutoZone by 5.0% during the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after acquiring an additional 4 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of AutoZone by 44.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,235 shares of the company’s stock worth $7,040,000 after purchasing an additional 685 shares during the period. Forsta AP Fonden increased its position in AutoZone by 9.4% during the 3rd quarter. Forsta AP Fonden now owns 3,500 shares of the company’s stock worth $11,025,000 after purchasing an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in AutoZone by 0.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 15,359 shares of the company’s stock valued at $48,742,000 after buying an additional 60 shares during the period. Finally, IVC Wealth Advisors LLC lifted its position in AutoZone by 4.4% during the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock valued at $299,000 after buying an additional 4 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AZO shares. Guggenheim upped their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial upped their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. TD Cowen raised their target price on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company upped their price target on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Finally, Mizuho increased their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research report 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,396.14 on Tuesday. The firm has a market cap of $56.99 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.86 and a beta of 0.70. AutoZone, Inc. has a 1 year low of $2,708.09 and a 1 year high of $3,484.42. The firm’s 50-day simple moving average is $3,322.47 and its 200-day simple moving average is $3,209.45.

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 the consensus estimate of $33.69 by ($1.17). The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company’s quarterly 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. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

About AutoZone

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.