Meridian Wealth Management LLC Purchases 4 Shares of AutoZone, Inc. (NYSE:AZO)

Meridian Wealth Management LLC grew its position in AutoZone, Inc. (NYSE:AZO) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 146 shares of the company’s stock after acquiring an additional 4 shares during the quarter. Meridian Wealth Management LLC’s holdings in AutoZone were worth $466,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Franklin Resources Inc. boosted its holdings 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 buying an additional 6,898 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of AutoZone by 186.8% in the 3rd 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. boosted its holdings in shares of AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after buying an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC raised its position in shares of AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after purchasing an additional 26 shares during the last quarter. Finally, Mizuho Securities USA LLC raised its position in shares of AutoZone by 592.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company’s stock valued at $29,012,000 after purchasing an additional 7,879 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Mizuho increased their price objective on shares of AutoZone from $3,600.00 to $3,740.00 and gave the company an “outperform” rating in a research report on Wednesday. Truist Financial increased their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. BMO Capital Markets increased their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Evercore ISI increased their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,646.62.

AutoZone Price Performance

NYSE:AZO opened at $3,569.49 on Thursday. The firm has a market cap of $59.90 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The company has a 50 day moving average price of $3,351.07 and a 200-day moving average price of $3,223.79. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,570.50.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal 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.