AutoZone, Inc. (NYSE:AZO) Stake Reduced by Fenimore Asset Management Inc

Fenimore Asset Management Inc trimmed its stake in AutoZone, Inc. (NYSE:AZO) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 33,673 shares of the company’s stock after selling 235 shares during the quarter. AutoZone accounts for approximately 2.3% of Fenimore Asset Management Inc’s holdings, making the stock its 17th biggest holding. Fenimore Asset Management Inc’s holdings in AutoZone were worth $107,821,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AZO. Capital Performance Advisors LLP acquired a new position in AutoZone during the 3rd quarter valued at about $36,000. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone during the third quarter worth approximately $47,000. Darwin Wealth Management LLC bought a new position in AutoZone in the 3rd quarter worth approximately $47,000. McIlrath & Eck LLC grew its holdings in AutoZone by 25.0% in the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after buying an additional 4 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in AutoZone in the 3rd quarter valued at approximately $66,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

AZO stock opened at $3,328.28 on Friday. The firm has a market capitalization of $55.85 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.84 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,672.31 and a 52-week high of $3,416.71. The company’s 50 day simple moving average is $3,238.73 and its 200-day simple moving average is $3,149.01.

AutoZone (NYSE:AZO) last announced its 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 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%. AutoZone’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $32.55 earnings per share. Sell-side analysts predict that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of several recent analyst reports. Guggenheim increased their price target on AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research report on Tuesday, October 15th. The Goldman Sachs Group downgraded shares of AutoZone from a “buy” rating to a “sell” rating and dropped their price target for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. Mizuho increased their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, Redburn Atlantic raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price 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.