Bank of New York Mellon Corp Raises Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Bank of New York Mellon Corp increased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,648 shares of the company’s stock after acquiring an additional 441 shares during the quarter. Bank of New York Mellon Corp’s holdings in AutoZone were worth $395,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hendley & Co. Inc. increased its position in shares of AutoZone by 0.4% during the 4th quarter. Hendley & Co. Inc. now owns 1,332 shares of the company’s stock valued at $4,265,000 after purchasing an additional 5 shares during the last quarter. Prasad Wealth Partners LLC purchased a new stake in AutoZone during the fourth quarter worth about $432,000. Crestwood Advisors Group LLC increased its holdings in AutoZone by 26.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 151 shares of the company’s stock worth $484,000 after buying an additional 32 shares during the last quarter. IFP Advisors Inc boosted its stake in AutoZone by 44.4% in the fourth quarter. IFP Advisors Inc now owns 257 shares of the company’s stock valued at $831,000 after acquiring an additional 79 shares during the last quarter. Finally, Asset Advisors Investment Management LLC boosted its stake in AutoZone by 10.3% in the fourth quarter. Asset Advisors Investment Management LLC now owns 1,851 shares of the company’s stock valued at $5,927,000 after acquiring an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 1.1 %

Shares of AZO stock opened at $3,388.21 on Thursday. The company has a 50 day moving average price of $3,327.45 and a 200-day moving average price of $3,212.80. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,484.42. The firm has a market capitalization of $56.85 billion, a PE ratio of 22.64, a P/E/G ratio of 1.86 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 company had revenue of $4.28 billion during 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%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $32.55 EPS. Analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on AZO. Evercore ISI raised their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Guggenheim raised their target price on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Barclays upped their price target on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Citigroup increased their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Truist Financial boosted their price objective on AutoZone from $3,501.00 to $3,753.00 and gave the company 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 company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

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.