Patten Group Inc. Boosts Holdings in AutoZone, Inc. (NYSE:AZO)

Patten Group Inc. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 205.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 223 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Patten Group Inc.’s holdings in AutoZone were worth $714,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AZO. Capital Performance Advisors LLP acquired a new stake in AutoZone in the third quarter valued at $36,000. Darwin Wealth Management LLC acquired a new stake in AutoZone in the third quarter valued at $47,000. Crews Bank & Trust acquired a new stake in AutoZone in the fourth quarter valued at $61,000. McIlrath & Eck LLC lifted its holdings in AutoZone by 25.0% in the third quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in AutoZone in the third quarter valued at $66,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Trading Up 0.2 %

Shares of AZO stock opened at $3,485.50 on Wednesday. The company has a market capitalization of $58.49 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.86 and a beta of 0.70. The firm has a 50-day moving average price of $3,345.35 and a 200 day moving average price of $3,221.36. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,563.57.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing the consensus estimate of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Truist Financial raised their target price on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. BMO Capital Markets assumed coverage on AutoZone in a research note on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target for the company. Citigroup lifted their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Argus lifted their price target on AutoZone from $3,560.00 to $3,678.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Evercore ISI lifted their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target 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.