Empower Advisory Group LLC Increases Stock Position in AutoZone, Inc. (NYSE:AZO)

Empower Advisory Group LLC increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124 shares of the company’s stock after buying an additional 19 shares during the period. Empower Advisory Group LLC’s holdings in AutoZone were worth $397,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. boosted its holdings in AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after buying an additional 3 shares in the last quarter. IVC Wealth Advisors LLC lifted its holdings in AutoZone by 4.4% during the third quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock valued at $299,000 after purchasing an additional 4 shares in the last quarter. Allworth Financial LP lifted its holdings in AutoZone by 5.0% during the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after purchasing an additional 4 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in AutoZone by 1.5% during the third quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock valued at $841,000 after purchasing an additional 4 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in AutoZone by 4.2% during the third quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock valued at $312,000 after purchasing an additional 4 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of AZO opened at $3,398.16 on Thursday. AutoZone, Inc. has a 1-year low of $2,680.96 and a 1-year high of $3,484.42. The stock has a market cap of $57.02 billion, a PE ratio of 22.70, a P/E/G ratio of 1.91 and a beta of 0.70. The firm has a 50-day simple moving average of $3,320.42 and a two-hundred day simple moving average of $3,203.12.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business earned $32.55 earnings per share. AutoZone’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AZO shares. Argus increased their price objective on shares of AutoZone from $3,560.00 to $3,678.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Mizuho increased their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Guggenheim raised their price target on shares of AutoZone from $3,350.00 to $3,750.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

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.