1,359 Shares in AutoZone, Inc. $AZO Acquired by Cibc World Market Inc.

Cibc World Market Inc. acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,359 shares of the company's stock, valued at approximately $4,342,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AZO. BlackRock Inc. purchased a new stake in shares of AutoZone in the second quarter valued at about $3,938,566,000. Morgan Stanley lifted its holdings in AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company's stock valued at $1,671,323,000 after acquiring an additional 74,555 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in AutoZone by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 387,042 shares of the company's stock worth $1,312,654,000 after acquiring an additional 7,390 shares during the period. Norges Bank acquired a new stake in AutoZone during the fourth quarter worth $939,205,000. Finally, First Manhattan CO. LLC. raised its position in AutoZone by 2.7% in the fourth quarter. First Manhattan CO. LLC. now owns 261,314 shares of the company's stock valued at $886,246,000 after purchasing an additional 6,765 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other AutoZone news, Director Brian Hannasch bought 165 shares of the business's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president owned 441 shares in the company, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Roth Capital decreased their price target on AutoZone from $4,526.00 to $4,023.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. BNP Paribas Exane reduced 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 report on Wednesday, May 27th. DA Davidson decreased their target price on shares of AutoZone from $4,300.00 to $3,750.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, TD Cowen reiterated a "buy" rating and set a $3,700.00 price target on shares of AutoZone in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, AutoZone presently has an average rating of "Moderate Buy" and a consensus price target of $4,029.43.

AutoZone Trading Up 0.5%

AZO opened at $3,023.78 on Wednesday. The stock's 50-day moving average price is $3,050.91 and its 200 day moving average price is $3,319.59. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The firm has a market cap of $49.38 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 1.53 and a beta of 0.33.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating the consensus estimate of $36.22 by $1.85. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.86 billion. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.AutoZone's revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted $35.36 EPS. On average, research analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current year.

AutoZone declared that its board has approved a stock buyback program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

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.

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