Mission Wealth Management LP Trims Stock Position in AutoZone, Inc. (NYSE:AZO)

Mission Wealth Management LP cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 98 shares of the company’s stock after selling 8 shares during the quarter. Mission Wealth Management LP’s holdings in AutoZone were worth $313,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC lifted its position in AutoZone by 17.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 196 shares of the company’s stock worth $673,000 after buying an additional 29 shares during the period. LGT Fund Management Co Ltd. increased its stake in AutoZone by 19.8% during the fourth quarter. LGT Fund Management Co Ltd. now owns 884 shares of the company’s stock worth $2,831,000 after acquiring an additional 146 shares during the last quarter. LGT Group Foundation increased its stake in AutoZone by 1.8% during the fourth quarter. LGT Group Foundation now owns 1,138 shares of the company’s stock worth $3,644,000 after acquiring an additional 20 shares during the last quarter. DJE Kapital AG acquired a new stake in AutoZone during the fourth quarter worth about $254,000. Finally, SBI Securities Co. Ltd. acquired a new stake in AutoZone during the fourth quarter worth about $83,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AZO shares. Wedbush restated an “outperform” rating and set a $3,700.00 price target on shares of AutoZone in a research note on Wednesday. Raymond James increased their target price on AutoZone from $3,850.00 to $4,000.00 and gave the company a “strong-buy” rating in a research note on Wednesday. DA Davidson increased their target price on AutoZone from $3,350.00 to $3,500.00 and gave the company a “neutral” rating in a research note on Wednesday. UBS Group increased their target price on AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Evercore ISI increased their target price on AutoZone from $3,525.00 to $3,700.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,646.62.

AutoZone Price Performance

Shares of NYSE AZO opened at $3,569.49 on Thursday. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,570.50. The stock has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71. The business has a 50-day moving average of $3,351.07 and a 200-day moving average of $3,223.79.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion for the quarter, compared to the consensus estimate of $3.98 billion. On average, sell-side analysts expect that AutoZone, Inc. will post 152.94 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.