AutoZone, Inc. (NYSE:AZO) is RBA Wealth Management LLC’s 5th Largest Position

RBA Wealth Management LLC reduced its position in AutoZone, Inc. (NYSE:AZO) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,366 shares of the company’s stock after selling 31 shares during the period. AutoZone makes up about 2.9% of RBA Wealth Management LLC’s investment portfolio, making the stock its 5th biggest position. RBA Wealth Management LLC’s holdings in AutoZone were worth $7,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AZO. International Assets Investment Management LLC grew its stake in AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after acquiring an additional 993,139 shares during the period. Geode Capital Management LLC increased its position in AutoZone by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares in the last quarter. Marshfield Associates lifted its position in AutoZone by 0.5% during the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock worth $534,204,000 after acquiring an additional 796 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of AutoZone by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 104,665 shares of the company’s stock valued at $329,699,000 after buying an additional 466 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock valued at $292,544,000 after purchasing an additional 60,483 shares during the period. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

NYSE:AZO opened at $3,437.77 on Tuesday. AutoZone, Inc. has a fifty-two week low of $2,672.31 and a fifty-two week high of $3,445.05. The stock has a market cap of $57.69 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 1.85 and a beta of 0.71. The stock’s 50-day moving average is $3,263.25 and its two-hundred day moving average is $3,167.44.

AutoZone (NYSE:AZO) last released 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). The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $32.55 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AZO. TD Cowen boosted their target price on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Barclays upped their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research report on Thursday, January 9th. Roth Mkm restated a “buy” rating and issued a $3,634.00 target price on shares of AutoZone in a report on Wednesday, October 16th. Argus increased their target price on AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Finally, Roth Capital raised 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 given a strong buy rating to the stock. According to MarketBeat, AutoZone currently 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.