AutoZone, Inc. (NYSE:AZO) Stake Lessened by Walter Public Investments Inc.

Walter Public Investments Inc. reduced its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,094 shares of the company’s stock after selling 609 shares during the quarter. AutoZone accounts for approximately 4.1% of Walter Public Investments Inc.’s investment portfolio, making the stock its 6th biggest holding. Walter Public Investments Inc.’s holdings in AutoZone were worth $22,715,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new position in AutoZone in the 3rd quarter valued at about $36,000. Darwin Wealth Management LLC purchased a new position in AutoZone in the 3rd quarter valued at about $47,000. Crews Bank & Trust purchased a new position in AutoZone in the 4th quarter valued at about $61,000. McIlrath & Eck LLC lifted its stake in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after buying an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in AutoZone in the 3rd quarter valued at about $66,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,388.21 on Thursday. The company has a 50 day simple moving average of $3,327.45 and a 200-day simple moving average of $3,212.80. The company has a market capitalization of $56.85 billion, a P/E ratio of 22.64, a P/E/G ratio of 1.86 and a beta of 0.70. AutoZone, Inc. has a 1 year low of $2,728.97 and a 1 year high of $3,484.42.

AutoZone (NYSE:AZO) last announced its quarterly earnings results 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). The firm had revenue of $4.28 billion for 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $32.55 EPS. As a group, research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays raised their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Evercore ISI raised their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Wells Fargo & Company raised their price target on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. TD Cowen increased their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Argus increased their price objective on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.