Caisse DE Depot ET Placement DU Quebec Purchases 5,819 Shares of AutoZone, Inc. $AZO

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in AutoZone, Inc. by 12.9% and now owns 50,951 shares valued at approximately $194 million.
• Recent insider sales include Chairman William C. Rhodes III selling 27,500 shares and CFO Jamere Jackson selling 2,612 shares, reflecting significant decreases in their ownership positions.
• Brokerages have raised price targets for AutoZone, with estimates ranging from $4,000 to $4,600, as analysts continue to rate the stock as a buy.

Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 50,951 shares of the company's stock after acquiring an additional 5,819 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.30% of AutoZone worth $194,265,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Synovus Financial Corp bought a new stake in shares of AutoZone during the 1st quarter worth about $214,000. ICONIQ Capital LLC boosted its stake in shares of AutoZone by 18.8% during the 1st quarter. ICONIQ Capital LLC now owns 82 shares of the company's stock worth $313,000 after acquiring an additional 13 shares in the last quarter. Quantitative Investment Management LLC boosted its stake in shares of AutoZone by 31.7% during the 1st quarter. Quantitative Investment Management LLC now owns 598 shares of the company's stock worth $2,280,000 after acquiring an additional 144 shares in the last quarter. Jump Financial LLC grew its stake in AutoZone by 213.0% in the 1st quarter. Jump Financial LLC now owns 648 shares of the company's stock valued at $2,471,000 after buying an additional 441 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in AutoZone by 2.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 16,107 shares of the company's stock valued at $61,412,000 after buying an additional 314 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AZO shares. Truist Financial set a $3,995.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Roth Capital set a $4,135.00 target price on shares of AutoZone and gave the company a "buy" rating in a research note on Monday, June 2nd. DA Davidson raised their target price on shares of AutoZone from $4,192.00 to $4,850.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Finally, The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research note on Friday, May 23rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $4,101.29.

Insider Buying and Selling at AutoZone

In other news, CFO Jamere Jackson sold 2,612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the transaction, the chief financial officer directly owned 427 shares of the company's stock, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman William C. Rhodes III sold 27,500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman directly owned 8,546 shares of the company's stock, valued at $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,862 shares of company stock valued at $126,058,789 over the last quarter. 2.10% of the stock is currently owned by insiders.

AutoZone Price Performance

Shares of NYSE AZO traded down $4.44 during trading hours on Thursday, reaching $4,200.97. The stock had a trading volume of 78,897 shares, compared to its average volume of 109,275. The business's fifty day moving average is $3,843.91 and its two-hundred day moving average is $3,705.84. The company has a market cap of $70.49 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 2.52 and a beta of 0.38. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,222.44.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion for 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%.AutoZone's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $36.69 earnings per share. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.