Salem Investment Counselors Inc. Has $647,000 Holdings in AutoZone, Inc. (NYSE:AZO)

Salem Investment Counselors Inc. increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 6.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 202 shares of the company’s stock after acquiring an additional 12 shares during the period. Salem Investment Counselors Inc.’s holdings in AutoZone were worth $647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Threadgill Financial LLC increased its stake in shares of AutoZone by 0.3% in the fourth quarter. Threadgill Financial LLC now owns 5,875 shares of the company’s stock valued at $18,812,000 after buying an additional 19 shares during the period. Czech National Bank increased its position in AutoZone by 5.4% in the 4th quarter. Czech National Bank now owns 3,666 shares of the company’s stock valued at $11,739,000 after acquiring an additional 187 shares during the period. Fortem Financial Group LLC raised its stake in shares of AutoZone by 4.7% during the fourth quarter. Fortem Financial Group LLC now owns 377 shares of the company’s stock valued at $1,207,000 after acquiring an additional 17 shares during the last quarter. Kings Path Partners LLC acquired a new position in shares of AutoZone during the fourth quarter worth $1,073,000. Finally, Silverleafe Capital Partners LLC grew its stake in shares of AutoZone by 1.0% in 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 last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Saturday, September 21st. Wells Fargo & Company lifted their price objective on AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Wedbush reiterated an “outperform” rating and issued a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. BMO Capital Markets assumed 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. Finally, The Goldman Sachs Group lowered shares of AutoZone from a “buy” rating to a “sell” rating and reduced their price objective for the company 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 issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Stock Down 0.3 %

Shares of NYSE:AZO opened at $3,241.18 on Tuesday. The stock’s 50 day moving average is $3,216.44 and its 200-day moving average is $3,127.21. AutoZone, Inc. has a twelve month low of $2,575.00 and a twelve month high of $3,416.71. The firm has a market capitalization of $54.39 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.73 and a beta of 0.71.

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 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 business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the business posted $32.55 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that AutoZone, Inc. will post 154.29 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.