Sovran Advisors LLC Invests $872,000 in AutoZone, Inc. (NYSE:AZO)

Sovran Advisors LLC acquired a new stake in AutoZone, Inc. (NYSE:AZO) during the 4th quarter, Holdings Channel.com reports. The firm acquired 270 shares of the company’s stock, valued at approximately $872,000.

A number of other large investors have also made changes to their positions in AZO. Petredis Investment Advisors LLC grew its stake in AutoZone by 0.6% in the 3rd quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock worth $2,237,000 after acquiring an additional 4 shares during the period. IVC Wealth Advisors LLC boosted its holdings in shares of AutoZone by 4.4% during the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock worth $299,000 after purchasing an additional 4 shares during the last quarter. Allworth Financial LP grew its position in shares of AutoZone by 5.0% in the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after purchasing an additional 4 shares during the period. Axxcess Wealth Management LLC increased its stake in AutoZone by 1.5% in the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after purchasing an additional 4 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in AutoZone by 4.2% during the third quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock worth $312,000 after buying an additional 4 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

AutoZone stock opened at $3,448.45 on Wednesday. AutoZone, Inc. has a one year low of $2,672.31 and a one year high of $3,484.42. The stock’s 50 day moving average price is $3,297.17 and its 200 day moving average price is $3,188.22. The firm has a market capitalization of $57.87 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 10th. The company reported $32.52 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 company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $32.55 earnings per share. On average, analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Barclays lifted their price target on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Wells Fargo & Company boosted their target price on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 price target on shares of AutoZone in a research report on Wednesday, October 16th. Mizuho lifted their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Truist Financial upped their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone 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.