Fifth Third Bancorp Cuts Stake in AutoZone, Inc. (NYSE:AZO)

Fifth Third Bancorp decreased its stake in AutoZone, Inc. (NYSE:AZO) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,697 shares of the company’s stock after selling 48 shares during the period. Fifth Third Bancorp’s holdings in AutoZone were worth $5,434,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new position in AutoZone in the 3rd quarter worth approximately $36,000. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone during the third quarter worth $47,000. Darwin Wealth Management LLC purchased a new position in shares of AutoZone in the third quarter valued at $47,000. McIlrath & Eck LLC grew its holdings in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in AutoZone during the 3rd quarter worth $66,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analysts Set New Price Targets

AZO has been the subject of a number of analyst reports. Citigroup upped 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 started coverage on AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective for the company. Argus upped their target price on AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a research report on Thursday, January 2nd. DA Davidson reiterated a “neutral” rating and set a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Finally, Guggenheim lifted their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,328.28 on Monday. The firm has a market capitalization of $55.85 billion, a PE ratio of 22.24, a P/E/G ratio of 1.84 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,672.31 and a 1-year high of $3,416.71. The business’s fifty day moving average price is $3,238.73 and its two-hundred day moving average price is $3,151.29.

AutoZone (NYSE:AZO) last released its quarterly earnings data 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 during 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 revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $32.55 EPS. Equities research analysts expect 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.