Tyche Wealth Partners LLC Grows Stock Position in AutoZone, Inc. (NYSE:AZO)

Tyche Wealth Partners LLC grew its position in shares of AutoZone, Inc. (NYSE:AZO) by 9.6% during the fourth quarter, HoldingsChannel reports. The firm owned 206 shares of the company’s stock after buying an additional 18 shares during the period. Tyche Wealth Partners LLC’s holdings in AutoZone were worth $661,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Petredis Investment Advisors LLC increased its stake in AutoZone by 0.6% during the 3rd quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock worth $2,237,000 after buying an additional 4 shares during the period. IVC Wealth Advisors LLC increased its position in shares of AutoZone by 4.4% during the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock worth $299,000 after acquiring an additional 4 shares during the last quarter. Allworth Financial LP lifted its stake in shares of AutoZone by 5.0% in the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock worth $265,000 after acquiring an additional 4 shares in the last quarter. Axxcess Wealth Management LLC boosted its holdings in AutoZone by 1.5% in the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after purchasing an additional 4 shares during the last quarter. Finally, Moors & Cabot Inc. grew its stake in AutoZone by 4.2% during the 3rd quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock valued at $312,000 after purchasing an additional 4 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Stock Performance

NYSE:AZO opened at $3,478.43 on Thursday. AutoZone, Inc. has a 1 year low of $2,672.31 and a 1 year high of $3,481.36. The business has a fifty day moving average of $3,275.98 and a 200-day moving average of $3,174.59. The stock has a market cap of $58.37 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.85 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing the consensus estimate of $33.69 by ($1.17). The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $32.55 EPS. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent analyst reports. BMO Capital Markets initiated coverage on AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 target price on the stock. Citigroup raised their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Argus boosted their price objective on AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Barclays upped 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, Mizuho boosted their price target on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone 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.