Bridges Investment Management Inc. Increases Stock Holdings in AutoZone, Inc. (NYSE:AZO)

Bridges Investment Management Inc. lifted its holdings in AutoZone, Inc. (NYSE:AZO) by 7.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,805 shares of the company’s stock after purchasing an additional 531 shares during the period. Bridges Investment Management Inc.’s holdings in AutoZone were worth $24,992,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC increased its holdings in AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after buying an additional 419,375 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of AutoZone in the 4th quarter worth $471,629,000. The Manufacturers Life Insurance Company raised its holdings in AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the period. Canoe Financial LP lifted its position in AutoZone by 542.8% during the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock valued at $200,032,000 after purchasing an additional 52,753 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in AutoZone by 35.6% during the fourth quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock valued at $522,211,000 after purchasing an additional 42,776 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Up 1.2 %

Shares of NYSE AZO opened at $3,484.56 on Friday. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,500.00. The firm’s 50-day moving average price is $3,336.73 and its 200-day moving average price is $3,217.19. The stock has a market capitalization of $58.48 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $32.55 earnings per share. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AZO. Mizuho raised their price objective on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Argus raised their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. BMO Capital Markets initiated coverage on shares of AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price target for the company. TD Cowen raised their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Evercore ISI upped their target price on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $3,442.61.

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.