Canoe Financial LP Sells 2,355 Shares of AutoZone, Inc. $AZO

Canoe Financial LP decreased its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 49,391 shares of the company’s stock after selling 2,355 shares during the period. AutoZone accounts for about 2.3% of Canoe Financial LP’s portfolio, making the stock its 13th largest position. Canoe Financial LP owned 0.30% of AutoZone worth $167,510,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. bought a new position in AutoZone in the third quarter worth approximately $26,000. Global Trust Asset Management LLC raised its stake in AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares in the last quarter. Loomis Sayles & Co. L P purchased a new stake in AutoZone during the second quarter worth $33,000. Finally, Salomon & Ludwin LLC bought a new stake in AutoZone during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 250 shares of the 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 transaction, the director directly owned 4,887 shares of the company’s stock, valued at $16,102,665. This trade represents a 4.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at $9,719,900. This trade represents a 69.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,447 shares of company stock worth $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Price Performance

AutoZone stock opened at $3,315.90 on Friday. The stock has a market capitalization of $54.65 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.70 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11. The business has a fifty day moving average price of $3,643.05 and a 200-day moving average price of $3,743.30.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share 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 for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the business earned $28.29 EPS. 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 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on AZO. Roth Mkm reduced their price target on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Robert W. Baird downgraded AutoZone from an “outperform” rating to a “neutral” rating and set a $3,900.00 price objective on the stock. in a research report on Monday, February 9th. Evercore lifted their target price on AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Wolfe Research downgraded shares of AutoZone from an “outperform” rating to a “peer perform” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,312.13.

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.