Canoe Financial LP Has $200.03 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Canoe Financial LP lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 542.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,471 shares of the company’s stock after purchasing an additional 52,753 shares during the quarter. AutoZone accounts for 2.9% of Canoe Financial LP’s holdings, making the stock its 8th largest position. Canoe Financial LP owned 0.37% of AutoZone worth $200,032,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

AZO has been the subject of several research analyst reports. DA Davidson restated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research report on Monday, September 30th. StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Barclays boosted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. BMO Capital Markets assumed coverage on shares of AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective for the company. Finally, Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Performance

NYSE:AZO opened at $3,221.06 on Friday. The company has a market capitalization of $54.06 billion, a PE ratio of 21.52, a P/E/G ratio of 1.80 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,658.18 and a fifty-two week high of $3,416.71. The company has a 50 day simple moving average of $3,220.70 and a two-hundred day simple moving average of $3,130.04.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share 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 the consensus estimate of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $32.55 EPS. Research analysts predict that AutoZone, Inc. will post 153.09 EPS 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.