AutoZone, Inc. $AZO Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its position in AutoZone, Inc. (NYSE:AZO) by 7.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,519 shares of the company’s stock after buying an additional 3,495 shares during the period. Bank of Montreal Can owned about 0.29% of AutoZone worth $203,868,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC boosted its stake in shares of AutoZone by 371,123.0% during 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. Norges Bank acquired a new position in AutoZone in the 2nd quarter worth about $981,202,000. Vontobel Holding Ltd. boosted its position in AutoZone by 277.3% during the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after purchasing an additional 75,382 shares in the last quarter. Evelyn Partners Investment Management Services Ltd boosted its position in AutoZone by 1,185.5% during the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after purchasing an additional 59,653 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after purchasing an additional 41,467 shares during the period. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AZO. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Oppenheimer reiterated an “outperform” rating and set a $4,300.00 target price (up from $4,150.00) on shares of AutoZone in a research report on Tuesday. Raymond James Financial dropped their price target on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, December 10th. Guggenheim reduced their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a research report on Wednesday, December 10th. Finally, UBS Group set a $4,800.00 price objective on shares of AutoZone in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,318.38.

Insider Activity at AutoZone

In other news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction dated Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Earl G. Graves, Jr. sold 250 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. This represents a 4.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,447 shares of company stock worth $34,179,923 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

AutoZone Price Performance

NYSE AZO opened at $3,724.43 on Wednesday. The company has a market cap of $61.71 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.41. The stock’s 50 day simple moving average is $3,633.67 and its 200-day simple moving average is $3,811.04. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping the consensus estimate of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The firm had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the previous year, the business earned $28.29 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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.