AutoZone, Inc. $AZO Stock: TD Waterhouse Canada Inc. Boosts Position

Key Points

• TD Waterhouse Canada increased its AutoZone position by 415.4% during the third quarter, bringing its holdings to 11,953 shares valued at approximately $33.8 million. Institutional investors collectively own 92.74% of the company.
• AutoZone shares opened at $3,116.62, with a market capitalization of $50.89 billion. The company reported quarterly revenue of $6.59 billion, up 5.6% year over year, while earnings exceeded analysts’ estimates.
• Wall Street maintains a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $3,669.12. However, a company vice president recently sold 1,455 shares, reducing his direct stake by 76.74%.

TD Waterhouse Canada Inc. increased its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 415.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,953 shares of the company's stock after buying an additional 9,634 shares during the period. TD Waterhouse Canada Inc. owned 0.07% of AutoZone worth $33,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its stake in AutoZone by 42,984.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company's stock worth $29,821,658,000 after acquiring an additional 10,513,156 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of AutoZone during the 2nd quarter worth approximately $3,938,566,000. Sound Income Strategies LLC raised its holdings in shares of AutoZone by 646,568.6% during the 3rd quarter. Sound Income Strategies LLC now owns 659,602 shares of the company's stock worth $1,866,687,000 after acquiring an additional 659,500 shares in the last quarter. Howard Capital Management LLC raised its holdings in shares of AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company's stock worth $1,091,191,000 after acquiring an additional 385,091 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of AutoZone by 247,417.8% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company's stock valued at $798,963,000 after acquiring an additional 249,892 shares during the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Trading Up 1.9%

AZO opened at $3,116.62 on Friday. The firm has a market cap of $50.89 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.45 and a beta of 0.40. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $4,040.00. The stock has a 50-day moving average of $2,937.50 and a 200 day moving average of $3,131.66.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same quarter last year, the business earned $48.71 EPS. The business's revenue was up 5.6% on a year-over-year basis. On average, research analysts forecast that AutoZone, Inc. will post 171.53 earnings per share for the current fiscal year.

Insider Activity

In related news, VP Dennis LeRiche sold 1,455 shares of the firm's 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 completion of the sale, the vice president directly owned 441 shares of the company's stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

AZO has been the subject of a number of recent research reports. Weiss Ratings lowered shares of AutoZone from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 23rd. Oppenheimer set a $3,400.00 price target on shares of AutoZone in a research report on Wednesday, September 23rd. UBS Group set a $3,850.00 price target on shares of AutoZone in a research report on Wednesday, September 23rd. Evercore reaffirmed an "outperform" rating on shares of AutoZone in a research note on Wednesday, September 23rd. Finally, The Goldman Sachs Group lowered their price objective on shares of AutoZone from $4,096.00 to $3,917.00 and set a "buy" rating for the company in a research report on Wednesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, AutoZone presently has a consensus rating of "Moderate Buy" and an average price target of $3,669.12.

AutoZone Profile

AutoZone, Inc is a specialty retailer of automotive replacement parts, accessories and maintenance products. The company serves do-it-yourself customers as well as professional automotive repair shops, offering products such as batteries, brakes, filters, engine components, tools, fluids and other vehicle parts.

In addition to its retail stores, AutoZone provides commercial sales and delivery services for professional repair businesses. The company also operates ALLDATA, which offers automotive diagnostic, repair and shop-management software and information services to repair professionals.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional stores and operations in Mexico and Brazil.

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