Mechanics Bank Trust Department Makes New $240,000 Investment in AutoZone, Inc. (NYSE:AZO)

Mechanics Bank Trust Department acquired a new stake in AutoZone, Inc. (NYSE:AZO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 75 shares of the company’s stock, valued at approximately $240,000.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AZO shares. 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. Evercore ISI raised their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. DA Davidson reissued a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a report on Monday, September 30th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $3,634.00 price objective on shares of AutoZone in a report on Wednesday, October 16th. One equities research 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,429.84.

AutoZone Trading Up 0.8 %

NYSE:AZO opened at $3,221.06 on Tuesday. The firm has a market cap of $54.05 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 1.80 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,658.18 and a 12-month high of $3,416.71. The company’s 50-day moving average is $3,222.90 and its two-hundred day moving average is $3,136.66.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $32.55 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts forecast that AutoZone, Inc. will post 153.09 earnings per share for the current fiscal 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.