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

Key Points

• CIBC Asset Management increased its AutoZone stake by 67.1% in the fourth quarter, bringing its holdings to 3,941 shares valued at about $13.4 million.
• AutoZone reported quarterly EPS of $38.07, beating analyst estimates, while revenue came in at $4.84 billion, slightly below expectations but still up 8.4% year over year.
• Wall Street remains broadly positive on the stock, with a Moderate Buy consensus and an average price target of about $4,040.87; shares recently traded around $3,082.70.

CIBC Asset Management Inc grew its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 67.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,941 shares of the company's stock after purchasing 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 SEC filing.

A number of other institutional investors have also made changes to their positions in AZO. Brighton Jones LLC grew its stake in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in AutoZone in the second quarter valued at about $356,000. Guggenheim Capital LLC grew its stake in AutoZone by 3.8% during the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company's stock valued at $921,000 after purchasing an additional 9 shares in the last quarter. NewEdge Advisors LLC grew its stake in AutoZone by 8.9% during the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company's stock valued at $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in AutoZone by 52.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company's stock worth $43,667,000 after purchasing an additional 4,039 shares during the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Up 0.7%

Shares of NYSE AZO opened at $3,082.70 on Friday. The company has a market capitalization of $50.80 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 1.56 and a beta of 0.35. AutoZone, Inc. has a twelve month low of $2,928.11 and a twelve month high of $4,388.11. The business has a 50 day simple moving average of $3,399.22 and a 200-day simple moving average of $3,543.31.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 77.83% and a net margin of 12.40%.The firm had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.86 billion. During the same period last year, the business posted $35.36 earnings per share. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. As a group, equities analysts predict that AutoZone, Inc. will post 150.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AZO shares. BMO Capital Markets cut their target price on AutoZone from $4,300.00 to $4,000.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 27th. Oppenheimer restated an "outperform" rating and issued a $4,300.00 price target (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Jefferies Financial Group cut their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a report on Wednesday, May 27th. Evercore reiterated an "outperform" rating on shares of AutoZone in a research note on Tuesday, May 26th. Finally, Barclays raised their price objective on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. One equities 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. According to MarketBeat.com, AutoZone presently has a consensus rating of "Moderate Buy" and an average target price of $4,040.87.

Insider Transactions at AutoZone

In other AutoZone news, Director Brian Hannasch acquired 165 shares of the company's stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the completion of the purchase, the director directly owned 1,219 shares in the company, valued at $3,641,153. The trade was a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible 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 transaction of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.60% of the company's stock.

AutoZone Company 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.

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