AutoZone, Inc. $AZO Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 67.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,941 shares of the company’s stock after acquiring an additional 1,582 shares during the period. CIBC Asset Management Inc’s holdings in AutoZone were worth $13,366,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of AZO. Brighton Jones LLC boosted its stake in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the period. Sivia Capital Partners LLC bought a new position in AutoZone in the 2nd quarter worth about $356,000. Guggenheim Capital LLC raised its holdings in shares of AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after buying an additional 9 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after buying an additional 112 shares during the period. Finally, Treasurer of the State of North Carolina boosted its position in shares of AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after buying an additional 4,039 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Brian Hannasch acquired 165 shares of AutoZone stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director owned 1,219 shares in the company, valued at approximately $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Earl G. Graves, Jr. sold 50 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the sale, the director owned 4,837 shares of the company’s stock, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on AZO. Jefferies Financial Group lowered their target price on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Citigroup decreased their price target on AutoZone from $4,300.00 to $3,700.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Truist Financial set a $3,700.00 price target on AutoZone in a report on Wednesday, May 27th. BNP Paribas Exane cut their price objective on shares of AutoZone from $4,478.00 to $3,979.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded AutoZone from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,040.87.

AutoZone Stock Performance

AutoZone stock opened at $3,082.70 on Friday. AutoZone, Inc. has a 52 week low of $2,928.11 and a 52 week high of $4,388.11. The firm has a market capitalization of $50.80 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 1.56 and a beta of 0.35. The company has a 50 day moving average price of $3,399.22 and a 200 day moving average price of $3,543.31.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. AutoZone had a negative return on equity of 77.83% and a net margin of 12.40%.The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $35.36 earnings per share. Equities analysts forecast that AutoZone, Inc. will post 150.18 earnings per share for the current fiscal year.

AutoZone Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.