147,292 Shares in AutoZone, Inc. (NYSE:AZO) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC bought a new stake in shares of AutoZone, Inc. (NYSE:AZO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 147,292 shares of the company’s stock, valued at approximately $471,629,000. AutoZone makes up approximately 0.9% of Strategic Financial Concepts LLC’s investment portfolio, making the stock its 22nd largest position. Strategic Financial Concepts LLC owned about 0.88% of AutoZone as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of AutoZone in the third quarter valued at about $36,000. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at about $47,000. Darwin Wealth Management LLC bought a new stake in shares of AutoZone in the 3rd quarter valued at about $47,000. Crews Bank & Trust purchased a new stake in shares of AutoZone in the 4th quarter worth approximately $61,000. Finally, McIlrath & Eck LLC boosted its stake in shares of AutoZone by 25.0% during the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after purchasing an additional 4 shares in the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AZO stock opened at $3,466.41 on Friday. AutoZone, Inc. has a fifty-two week low of $2,672.31 and a fifty-two week high of $3,484.42. The firm 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. The stock’s 50-day simple moving average is $3,281.77 and its 200-day simple moving average is $3,176.72.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share 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 business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company posted $32.55 EPS. AutoZone’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI upped their target price on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on AutoZone in a research report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price objective on the stock. Argus boosted their target price on shares of AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Barclays raised their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Truist Financial boosted their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

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.