Charles Schwab Investment Management Inc. Buys 3,053 Shares of AutoZone, Inc. (NYSE:AZO)

Charles Schwab Investment Management Inc. raised its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,718 shares of the company’s stock after purchasing an additional 3,053 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.64% of AutoZone worth $344,913,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its position in AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of AutoZone in the 4th quarter valued at approximately $471,629,000. The Manufacturers Life Insurance Company lifted its stake in shares of AutoZone by 186.8% in the 3rd 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. Canoe Financial LP boosted its position in shares of AutoZone by 542.8% during the fourth quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock valued at $200,032,000 after purchasing an additional 52,753 shares in the last quarter. Finally, Baillie Gifford & Co. grew its stake in AutoZone by 35.6% in the fourth quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock worth $522,211,000 after purchasing an additional 42,776 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on AZO shares. Wells Fargo & Company raised their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research report on Wednesday. Wedbush reissued an “outperform” rating and set a $3,700.00 price target on shares of AutoZone in a research report on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of AutoZone from $3,775.00 to $3,830.00 and gave the stock an “overweight” rating in a report on Wednesday. Guggenheim lifted their target price on shares of AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Truist Financial boosted their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $3,646.62.

AutoZone Stock Performance

NYSE AZO opened at $3,569.49 on Thursday. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,570.50. The stock has a 50-day moving average of $3,351.07 and a 200 day moving average of $3,223.79. The company has a market capitalization of $59.90 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.