Here’s Why You Should Consider Investing in AutoZone (AZO)

Altron Capital Management, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. The S&P500 had a return of 11.0% in the fourth quarter, bringing the total return for 2021 to 28.7%. The firm’s portfolios have underperformed this quarter, but are taking this opportunity to buy more into some of its current positions. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Altron Capital Management, in its Q4 2021 investor letter, mentioned AutoZone, Inc. (NYSE:AZO) and discussed its stance on the firm. Founded in 1979, AutoZone, Inc. (NYSE:AZO) is a Memphis, Tennessee-based aftermarket automotive parts and accessories retailer with a $43.4 billion market capitalization, and is currently spearheaded by its CEO, William C. Rhodes III. AutoZone, Inc. (NYSE:AZO) delivered a 4.49% return since the beginning of the year, while its 12-month returns are up by 50.64%. The stock closed at $2,190.56 per share on April 08, 2022.

Here is what Altron Capital Management has to say about AutoZone, Inc. (NYSE:AZO) in its Q4 2021 investor letter:

“AutoZone has been a winner since we built a position in the company last quarter. Given the current supply challenges in the automotive sector, we believe the long-standing trend of America’s aging automotive fleet will continue for the foreseeable future with AutoZone as a primary beneficiary.”

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Our calculations show that AutoZone, Inc. (NYSE:AZO) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. AutoZone, Inc. (NYSE:AZO) was in 45 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 35 funds in the previous quarter. AutoZone, Inc. (NYSE:AZO) delivered a 8.84% return in the past 3 months.

In February 2022, we also shared another hedge fund’s views on AutoZone, Inc. (NYSE:AZO) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.