Alta Capital Management LLC Raises Holdings in AutoZone, Inc. (NYSE:AZO)

Alta Capital Management LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 27.0% in the 4th quarter, Holdings Channel reports. The firm owned 11,110 shares of the company’s stock after purchasing an additional 2,362 shares during the period. AutoZone accounts for approximately 2.1% of Alta Capital Management LLC’s portfolio, making the stock its 19th largest position. Alta Capital Management LLC’s holdings in AutoZone were worth $35,574,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Pittenger & Anderson Inc. increased its position in shares of AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after purchasing an additional 3 shares in the last quarter. Axxcess Wealth Management LLC boosted its stake in AutoZone by 1.5% during the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after buying an additional 4 shares during the last quarter. 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 worth $312,000 after buying an additional 4 shares during the last quarter. McIlrath & Eck LLC boosted its stake in AutoZone by 25.0% during 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 last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in AutoZone by 6.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 69 shares of the company’s stock worth $221,000 after buying an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Trading Down 0.6 %

AZO opened at $3,471.00 on Tuesday. The stock’s 50-day moving average price is $3,341.31 and its 200 day moving average price is $3,219.44. AutoZone, Inc. has a 12-month low of $2,728.97 and a 12-month high of $3,519.00. The firm has a market cap of $58.25 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.86 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $32.55 EPS. AutoZone’s revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

AZO has been the topic of a number of recent research reports. Guggenheim boosted their price objective 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. Evercore ISI boosted their price objective on AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays boosted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Mizuho upped their price target on AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Truist Financial upped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3,442.61.

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.