Cibc World Market Inc. Boosts Stock Position in AutoZone, Inc. $AZO

Cibc World Market Inc. grew its holdings in AutoZone, Inc. (NYSE:AZO) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,162 shares of the company’s stock after purchasing an additional 614 shares during the period. Cibc World Market Inc.’s holdings in AutoZone were worth $22,145,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in AutoZone by 0.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock worth $6,574,374,000 after buying an additional 11,142 shares during the period. Laurel Wealth Advisors LLC grew its stake in AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock worth $3,472,724,000 after acquiring an additional 935,230 shares in the last quarter. State Street Corp increased its position in shares of AutoZone by 1.6% during the second quarter. State Street Corp now owns 714,091 shares of the company’s stock worth $2,650,870,000 after acquiring an additional 11,088 shares during the period. Geode Capital Management LLC raised its stake in shares of AutoZone by 1.9% during the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after acquiring an additional 8,187 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of AutoZone in the second quarter valued at approximately $981,202,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Price Performance

Shares of AZO stock opened at $3,737.75 on Thursday. The stock’s fifty day moving average price is $3,539.34 and its 200 day moving average price is $3,845.68. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The company has a market cap of $61.93 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.74 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter last year, the business posted $32.52 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on AZO. Truist Financial reduced their price objective on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Barclays set a $3,880.00 price target on AutoZone in a research note on Thursday, January 8th. Morgan Stanley decreased their price objective on AutoZone from $4,700.00 to $4,000.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. BNP Paribas Exane dropped their target price on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating on the stock in a report on Wednesday, December 10th. Finally, Citigroup cut their target price on shares of AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,271.25.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the sale, the director directly owned 4,887 shares in the company, valued at $16,102,665. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael A. George purchased 145 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $3,398.13 per share, for a total transaction of $492,728.85. Following the purchase, the director directly owned 566 shares in the company, valued at $1,923,341.58. This represents a 34.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. Company insiders own 2.60% of the company’s stock.

About AutoZone

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.