Dakota Wealth Management Lowers Position in AutoZone, Inc. (NYSE:AZO)

Dakota Wealth Management reduced its position in AutoZone, Inc. (NYSE:AZO) by 8.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276 shares of the company’s stock after selling 25 shares during the period. Dakota Wealth Management’s holdings in AutoZone were worth $884,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. TD Cowen lifted 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. BMO Capital Markets began coverage on shares of AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 target price for the company. Truist Financial boosted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Guggenheim increased their target price on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. One investment 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Price Performance

AZO stock opened at $3,328.28 on Friday. The stock has a market cap of $55.85 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.84 and a beta of 0.71. The company has a 50 day simple moving average of $3,234.31 and a 200 day simple moving average of $3,145.59. AutoZone, Inc. has a 1 year low of $2,672.31 and a 1 year high of $3,416.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (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 negative return on equity of 53.89% and a net margin of 14.18%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $32.55 earnings per share. On average, equities research analysts anticipate 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.