AutoZone, Inc. (NYSE:AZO) is Canoe Financial LP's 4th Largest Position

Canoe Financial LP lowered its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,621 shares of the company's stock after selling 1,850 shares during the period. AutoZone comprises about 3.7% of Canoe Financial LP's investment portfolio, making the stock its 4th biggest holding. Canoe Financial LP owned approximately 0.36% of AutoZone worth $231,135,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AZO. GAMMA Investing LLC boosted its position in AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares during the period. Proficio Capital Partners LLC boosted its position in AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after buying an additional 419,375 shares during the period. Norges Bank purchased a new stake in AutoZone during the 4th quarter valued at $834,556,000. Wealthfront Advisers LLC boosted its position in AutoZone by 6,083.9% during the 4th quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company's stock valued at $290,281,000 after buying an additional 89,190 shares during the period. Finally, Barclays PLC boosted its position in AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after buying an additional 77,015 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on AZO shares. Mizuho raised their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 5th. Roth Mkm raised their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. UBS Group raised their target price on shares of AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Evercore ISI set a $3,950.00 target price on shares of AutoZone in a research report on Monday, May 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $4,072.24.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,644.12 on Friday. The company has a 50-day moving average of $3,698.71 and a 200 day moving average of $3,521.61. The firm has a market cap of $61.15 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.15 and a beta of 0.40. AutoZone, Inc. has a 1 year low of $2,801.49 and a 1 year high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $37.07 by ($1.71). The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $36.69 earnings per share. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Insider Buying and Selling at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the completion of the sale, the chairman now directly owns 8,546 shares in the company, valued at approximately $31,696,515.78. This trade represents a 76.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Domingo Hurtado sold 4,800 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total transaction of $17,568,000.00. Following the sale, the vice president now owns 159 shares of the company's stock, valued at approximately $581,940. This represents a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,912 shares of company stock worth $136,901,262. 2.10% of the stock is owned by corporate insiders.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.

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