Crews Bank & Trust Makes New Investment in AutoZone, Inc. (NYSE:AZO)

Crews Bank & Trust purchased a new stake in AutoZone, Inc. (NYSE:AZO) in the fourth quarter, Holdings Channel reports. The firm purchased 19 shares of the company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AZO. Franklin Resources Inc. increased its stake in shares of AutoZone by 18.1% in the 3rd quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock worth $141,717,000 after acquiring an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in AutoZone by 186.8% during the third quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock valued at $111,455,000 after purchasing an additional 7,922 shares during the last quarter. Silverleafe Capital Partners LLC grew its stake in shares of AutoZone by 1.0% in the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after buying an additional 26 shares during the period. Finally, Verde Capital Management acquired a new stake in shares of AutoZone during the 3rd quarter worth approximately $1,137,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

AZO has been the subject of several analyst reports. BMO Capital Markets began coverage on AutoZone in a research report on Friday, December 13th. They issued an “outperform” rating and a $3,700.00 price objective for the company. TD Cowen upped their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Roth Capital upgraded shares of AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Truist Financial boosted their target price on AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and cut their target price for the stock from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Price Performance

AZO stock opened at $3,354.35 on Friday. AutoZone, Inc. has a 12 month low of $2,672.31 and a 12 month high of $3,437.63. The company has a market cap of $56.29 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 1.83 and a beta of 0.71. The company has a fifty day moving average price of $3,258.16 and a 200 day moving average price of $3,162.04.

AutoZone (NYSE:AZO) last announced its earnings results 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 business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. AutoZone’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $32.55 EPS. As a group, analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current 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.