AutoZone, Inc. (NYSE:AZO) Stock Holdings Lifted by Meyer Handelman Co.

Meyer Handelman Co. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,105 shares of the company’s stock after acquiring an additional 161 shares during the quarter. Meyer Handelman Co.’s holdings in AutoZone were worth $6,740,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its holdings in shares of AutoZone by 354,692.5% in the third quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after purchasing an additional 993,139 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in AutoZone by 186.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after acquiring an additional 60,483 shares during the period. Squarepoint Ops LLC boosted its position in AutoZone by 319.0% during the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock worth $107,375,000 after acquiring an additional 27,580 shares during the period. Worldquant Millennium Advisors LLC purchased a new position in AutoZone during the 3rd quarter valued at about $85,127,000. Finally, Erste Asset Management GmbH acquired a new position in shares of AutoZone in the 3rd quarter valued at about $63,379,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,224.60 on Wednesday. The firm has a market capitalization of $54.12 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.73 and a beta of 0.71. The company’s fifty day moving average is $3,219.74 and its two-hundred day moving average is $3,129.05. AutoZone, Inc. has a 52-week low of $2,575.00 and a 52-week high of $3,416.71.

AutoZone (NYSE:AZO) last issued its 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). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $32.55 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 154.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group boosted their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Mizuho upped their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Truist Financial upped their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, TD Cowen lifted their price target on AutoZone from $3,450.00 to $3,800.00 and gave the company a “buy” rating in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average target price 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.