Strategic Financial Concepts LLC Takes $471.63 Million Position in AutoZone, Inc. (NYSE:AZO)

Strategic Financial Concepts LLC acquired a new position in shares of AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 147,292 shares of the company’s stock, valued at approximately $471,629,000. AutoZone accounts for about 14.5% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its largest holding. Strategic Financial Concepts LLC owned approximately 0.88% of AutoZone as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in shares of AutoZone during the 3rd quarter worth about $36,000. Carolina Wealth Advisors LLC acquired a new position in AutoZone during the third quarter valued at approximately $47,000. Darwin Wealth Management LLC acquired a new position in AutoZone during the third quarter valued at approximately $47,000. Crews Bank & Trust bought a new stake in AutoZone in the fourth quarter valued at approximately $61,000. Finally, McIlrath & Eck LLC raised its holdings in 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. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

AZO has been the subject of several research analyst reports. Argus boosted their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Citigroup boosted their target price on AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. TD Cowen increased their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. BMO Capital Markets initiated coverage on AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective on the stock. Finally, Truist Financial increased their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Down 0.2 %

Shares of AutoZone stock opened at $3,461.94 on Friday. The stock has a market cap of $58.09 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 12-month low of $2,680.96 and a 12-month high of $3,484.42. The business’s 50 day moving average is $3,315.89 and its 200-day moving average is $3,197.01.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company posted $32.55 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. 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.