Flagship Harbor Advisors LLC Has $464,000 Stake in AutoZone, Inc. (NYSE:AZO)

Flagship Harbor Advisors LLC reduced its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 7.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145 shares of the company’s stock after selling 11 shares during the period. Flagship Harbor Advisors LLC’s holdings in AutoZone were worth $464,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in AutoZone by 18.1% during the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after purchasing an additional 6,898 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after buying an additional 60,483 shares during the period. Assenagon Asset Management S.A. grew its position in shares of AutoZone by 29.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after buying an additional 7,922 shares during the period. Silverleafe Capital Partners LLC lifted its position in shares of AutoZone by 1.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after acquiring an additional 26 shares during the period. Finally, Verde Capital Management bought a new position in AutoZone during the third quarter worth $1,137,000. 92.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Redburn Atlantic upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. BMO Capital Markets began coverage on AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target on the stock. Mizuho increased their price target on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. 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 report on Wednesday, December 11th. Finally, Roth Capital upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Down 1.4 %

AZO stock opened at $3,324.32 on Wednesday. The firm has a market cap of $55.78 billion, a PE ratio of 22.21, a P/E/G ratio of 1.84 and a beta of 0.71. The business has a 50 day moving average of $3,242.80 and a 200-day moving average of $3,156.76. AutoZone, Inc. has a 12-month low of $2,672.31 and a 12-month high of $3,437.63.

AutoZone (NYSE:AZO) last announced 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 business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $32.55 EPS. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share 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.