AutoZone, Inc. (NYSE:AZO) Stake Trimmed by Arkadios Wealth Advisors

Arkadios Wealth Advisors cut its position in shares of AutoZone, Inc. (NYSE:AZO) by 8.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,025 shares of the company’s stock after selling 90 shares during the quarter. Arkadios Wealth Advisors’ holdings in AutoZone were worth $3,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of AutoZone in the 3rd quarter valued at approximately $36,000. Carolina Wealth Advisors LLC acquired a new stake in AutoZone during the 3rd quarter valued at $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone in the third quarter valued at $47,000. McIlrath & Eck LLC boosted its position in shares of AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of AutoZone during the third quarter valued at $66,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Trading Up 0.8 %

Shares of AutoZone stock opened at $3,221.06 on Friday. The firm has a fifty day simple moving average of $3,220.70 and a 200-day simple moving average of $3,130.04. The stock has a market capitalization of $54.06 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.80 and a beta of 0.71. AutoZone, Inc. has a 1-year low of $2,658.18 and a 1-year high of $3,416.71.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (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 the consensus estimate of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $32.55 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 153.09 earnings per share for the current year.

Analyst Ratings Changes

AZO has been the subject of several research analyst reports. BMO Capital Markets began coverage on AutoZone in a research note on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. Evercore ISI increased their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Truist Financial boosted their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. TD Cowen increased their target price on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and lowered their price target for the company from $3,205.00 to $2,917.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.