Bank of New York Mellon Corp Has $395.92 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Bank of New York Mellon Corp boosted its stake in AutoZone, Inc. (NYSE:AZO) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,648 shares of the company’s stock after acquiring an additional 441 shares during the period. Bank of New York Mellon Corp owned 0.74% of AutoZone worth $395,922,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hendley & Co. Inc. boosted its stake in shares of AutoZone by 0.4% in the 4th quarter. Hendley & Co. Inc. now owns 1,332 shares of the company’s stock valued at $4,265,000 after purchasing an additional 5 shares during the last quarter. Prasad Wealth Partners LLC acquired a new position in AutoZone in the fourth quarter valued at $432,000. Crestwood Advisors Group LLC boosted its position in AutoZone by 26.9% during the fourth quarter. Crestwood Advisors Group LLC now owns 151 shares of the company’s stock valued at $484,000 after acquiring an additional 32 shares during the last quarter. IFP Advisors Inc grew its holdings in AutoZone by 44.4% during the 4th quarter. IFP Advisors Inc now owns 257 shares of the company’s stock worth $831,000 after acquiring an additional 79 shares during the period. Finally, Asset Advisors Investment Management LLC raised its position in shares of AutoZone by 10.3% in the 4th quarter. Asset Advisors Investment Management LLC now owns 1,851 shares of the company’s stock worth $5,927,000 after acquiring an additional 173 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company upped their target price on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Barclays increased their price target on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Truist Financial lifted their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Citigroup increased their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, Argus lifted their price target on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Stock Down 1.1 %

AZO stock opened at $3,388.21 on Thursday. The firm has a market capitalization of $56.85 billion, a PE ratio of 22.64, a P/E/G ratio of 1.86 and a beta of 0.70. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,484.42. The stock’s 50 day moving average is $3,327.45 and its 200-day moving average is $3,212.80.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $32.55 earnings per share. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.