Empowered Funds LLC Has $5.85 Million Stake in AutoZone, Inc. (NYSE:AZO)

Empowered Funds LLC raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,828 shares of the company’s stock after purchasing an additional 314 shares during the quarter. Empowered Funds LLC’s holdings in AutoZone were worth $5,853,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in AutoZone in the 3rd quarter valued at approximately $36,000. Carolina Wealth Advisors LLC acquired a new position in shares of AutoZone in the third quarter worth $47,000. Darwin Wealth Management LLC purchased a new stake in shares of AutoZone during the third quarter worth $47,000. Crews Bank & Trust acquired a new stake in AutoZone during the fourth quarter valued at $61,000. Finally, McIlrath & Eck LLC grew its stake 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 purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

AZO has been the subject of a number of recent research reports. Argus raised 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. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a research note on Tuesday, October 15th. Truist Financial increased their price target on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company lifted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Roth Mkm reissued a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $3,429.84.

AutoZone Stock Performance

NYSE:AZO opened at $3,448.45 on Wednesday. The firm’s 50-day moving average is $3,297.17 and its 200-day moving average is $3,188.22. The company has a market cap of $57.87 billion, a price-to-earnings ratio of 23.04, a PEG ratio of 1.92 and a beta of 0.70. AutoZone, Inc. has a 52-week low of $2,672.31 and a 52-week high of $3,484.42.

AutoZone (NYSE:AZO) last issued its quarterly 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 net margin of 14.18% and a negative return on equity of 53.89%. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the firm earned $32.55 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone Company 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.