Strategic Financial Concepts LLC Takes Position in AutoZone, Inc. (NYSE:AZO)

Strategic Financial Concepts LLC bought a new position in shares of AutoZone, Inc. (NYSE:AZO) in the 4th quarter, Holdings Channel reports. The fund bought 147,292 shares of the company’s stock, valued at approximately $471,629,000. AutoZone makes up 14.5% of Strategic Financial Concepts LLC’s portfolio, making the stock its biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Creative Planning increased its position in AutoZone by 4.0% during the 3rd quarter. Creative Planning now owns 2,519 shares of the company’s stock worth $7,933,000 after buying an additional 97 shares during the period. Bleakley Financial Group LLC increased its position in AutoZone by 5.3% during the third quarter. Bleakley Financial Group LLC now owns 475 shares of the company’s stock worth $1,496,000 after acquiring an additional 24 shares during the period. Trust Co. of Vermont raised its stake in AutoZone by 3.5% in the 3rd quarter. Trust Co. of Vermont now owns 497 shares of the company’s stock worth $1,566,000 after purchasing an additional 17 shares in the last quarter. Ellsworth Advisors LLC bought a new stake in AutoZone in the 3rd quarter valued at about $246,000. Finally, Aaron Wealth Advisors LLC grew its position in shares of AutoZone by 34.1% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 122 shares of the company’s stock worth $384,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Stock Down 0.2 %

NYSE AZO opened at $3,461.94 on Friday. The company has a market cap of $58.09 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a twelve month low of $2,680.96 and a twelve month high of $3,484.42. The business’s fifty day moving average is $3,315.89 and its 200 day moving average is $3,197.01.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates 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 net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $32.55 earnings per share. On average, research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AZO shares. TD Cowen lifted their price target on shares of AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Barclays lifted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Wells Fargo & Company increased their target price on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. BMO Capital Markets initiated coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price target for the company. Finally, Evercore ISI increased their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.