Mirae Asset Global Investments Co. Ltd. Acquires 299 Shares of AutoZone, Inc. (NYSE:AZO)

Mirae Asset Global Investments Co. Ltd. raised its stake in AutoZone, Inc. (NYSE:AZO) by 13.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,534 shares of the company’s stock after acquiring an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in AutoZone were worth $8,149,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AZO. Petredis Investment Advisors LLC increased its position in shares of AutoZone by 0.6% in the third quarter. Petredis Investment Advisors LLC now owns 710 shares of the company’s stock worth $2,237,000 after purchasing an additional 4 shares during the period. IVC Wealth Advisors LLC raised its position in shares of AutoZone by 4.4% in the 3rd quarter. IVC Wealth Advisors LLC now owns 95 shares of the company’s stock valued at $299,000 after buying an additional 4 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of AutoZone by 5.0% during the 3rd quarter. Allworth Financial LP now owns 84 shares of the company’s stock worth $265,000 after acquiring an additional 4 shares during the period. Axxcess Wealth Management LLC boosted its position in shares of AutoZone by 1.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after acquiring an additional 4 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in AutoZone by 4.2% in the third quarter. Moors & Cabot Inc. now owns 99 shares of the company’s stock valued at $312,000 after acquiring an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Trading Down 1.3 %

Shares of AutoZone stock opened at $3,420.42 on Friday. The company has a market cap of $57.40 billion, a P/E ratio of 22.85, a PEG ratio of 1.85 and a beta of 0.70. The business has a 50-day moving average price of $3,287.30 and a two-hundred day moving average price of $3,178.73. AutoZone, Inc. has a 1-year low of $2,672.31 and a 1-year high of $3,484.42.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial lifted their price target on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and dropped their target price for the stock from $3,205.00 to $2,917.00 in a report on Monday, October 14th. Citigroup upped their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Guggenheim raised their target price on shares of AutoZone from $3,350.00 to $3,750.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, BMO Capital Markets initiated coverage on shares of AutoZone in a report on Friday, December 13th. They set an “outperform” rating and a $3,700.00 price target for the company. One equities research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

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.