Edgestream Partners L.P. Takes $1.68 Million Position in AutoZone, Inc. (NYSE:AZO)

Edgestream Partners L.P. acquired a new stake in AutoZone, Inc. (NYSE:AZO) in the 4th quarter, HoldingsChannel reports. The fund acquired 524 shares of the company’s stock, valued at approximately $1,678,000.

Several other institutional investors and hedge funds have also modified their holdings of AZO. Proficio Capital Partners LLC raised its holdings in AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the period. Strategic Financial Concepts LLC acquired a new position in AutoZone in the 4th quarter worth about $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. Raymond James Financial Inc. acquired a new position in AutoZone in the 4th quarter worth about $189,483,000. Finally, Canoe Financial LP raised its holdings in AutoZone by 542.8% in the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after purchasing an additional 52,753 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,685.10 on Tuesday. The firm has a market capitalization of $61.84 billion, a price-to-earnings ratio of 24.62, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,704.43. The stock has a 50 day moving average of $3,375.95 and a 200 day moving average of $3,233.66.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling

In related news, SVP Bailey L. Childress sold 160 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the completion of the transaction, the senior vice president now directly owns 50 shares in the company, valued at approximately $177,500. This represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AZO has been the subject of a number of analyst reports. Citigroup upped their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen upped 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. Morgan Stanley boosted their price objective on AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. DA Davidson boosted their price objective on AutoZone from $3,350.00 to $3,500.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 5th. Finally, Barclays boosted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and four have assigned 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 $3,651.91.

AutoZone Company 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.