AutoZone, Inc. (NYSE:AZO) Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC boosted its stake in AutoZone, Inc. (NYSE:AZO) by 48.2% in the 4th quarter, Holdings Channel reports. The firm owned 329 shares of the company’s stock after purchasing an additional 107 shares during the period. DAVENPORT & Co LLC’s holdings in AutoZone were worth $1,053,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Capital Performance Advisors LLP purchased a new position in shares of AutoZone during the third quarter worth $36,000. Carolina Wealth Advisors LLC acquired a new position in AutoZone during the 3rd quarter worth about $47,000. Darwin Wealth Management LLC purchased a new position in AutoZone during the 3rd quarter valued at about $47,000. Crews Bank & Trust purchased a new position in AutoZone during the 4th quarter valued at about $61,000. Finally, McIlrath & Eck LLC increased its stake in AutoZone by 25.0% during 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. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on AZO shares. Mizuho raised their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Barclays increased their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a research note on Thursday, January 9th. Finally, Guggenheim boosted their target price on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Trading Down 0.2 %

Shares of NYSE:AZO opened at $3,466.41 on Friday. The firm has a 50 day simple moving average of $3,281.77 and a 200-day simple moving average of $3,176.72. AutoZone, Inc. has a twelve month low of $2,672.31 and a twelve month high of $3,484.42. The company has a market capitalization of $58.17 billion, a PE ratio of 23.16, a P/E/G ratio of 1.85 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share 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 analysts’ expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. AutoZone’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $32.55 earnings per share. As a group, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal 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.