Fisher Asset Management LLC Buys New Stake in AutoZone, Inc. (NYSE:AZO)

Fisher Asset Management LLC bought a new stake in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 70 shares of the company’s stock, valued at approximately $228,000.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of AutoZone during the third quarter worth about $36,000. Darwin Wealth Management LLC purchased a new position in shares of AutoZone during the 3rd quarter worth approximately $47,000. Crews Bank & Trust purchased a new position in shares of AutoZone during the 4th quarter worth approximately $61,000. McIlrath & Eck LLC increased its stake in shares of AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of AutoZone during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the completion of the sale, the senior vice president now directly owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

AutoZone Trading Up 0.1 %

NYSE AZO opened at $3,620.28 on Friday. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,636.96. The stock has a market cap of $60.76 billion, a price-to-earnings ratio of 24.19, 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 $3,365.96 and a two-hundred day moving average price of $3,229.85.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AZO has been the subject of several recent analyst reports. Truist Financial lifted their target price on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research note on Wednesday. Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a report on Wednesday. Guggenheim boosted their price objective on shares of AutoZone from $3,750.00 to $3,850.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Evercore ISI boosted their price objective on shares of AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3,646.62.

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.