Intact Investment Management Inc. Increases Stake in AutoZone, Inc. $AZO

Key Points

• Intact Investment Management raised its stake in AutoZone by 700% in Q4, buying an additional 350 shares to own 400 shares total, valued at approximately $1,357,000 per its latest 13F filing.
• Institutional ownership is very high at 92.74%, with other funds like Banco Bilbao Vizcaya Argentaria, Numerai GP and Summit Global also increasing positions in recent quarters.
• AutoZone (NYSE:AZO) has a market cap of about $57.4B and a P/E of 24.39; it reported Q4 EPS of $27.63 (slightly above estimates) and carries a consensus analyst rating of Moderate Buy with an average price target of $4,312.13.

Intact Investment Management Inc. raised its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 700.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400 shares of the company's stock after buying an additional 350 shares during the quarter. Intact Investment Management Inc.'s holdings in AutoZone were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in AutoZone by 6.6% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,966 shares of the company's stock valued at $21,315,000 after acquiring an additional 306 shares during the period. Summit Global Investments boosted its holdings in AutoZone by 132.8% during the 3rd quarter. Summit Global Investments now owns 319 shares of the company's stock valued at $1,369,000 after acquiring an additional 182 shares during the period. Numerai GP LLC boosted its holdings in AutoZone by 1,199.3% during the 3rd quarter. Numerai GP LLC now owns 1,754 shares of the company's stock valued at $7,525,000 after acquiring an additional 1,619 shares during the period. Foundations Investment Advisors LLC purchased a new position in AutoZone during the 3rd quarter valued at about $678,000. Finally, First Horizon Corp purchased a new position in AutoZone during the 3rd quarter valued at about $2,038,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,481.60 on Tuesday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The company has a market cap of $57.38 billion, a PE ratio of 24.39, a P/E/G ratio of 1.84 and a beta of 0.43. The business has a 50-day simple moving average of $3,544.72 and a 200-day simple moving average of $3,627.63.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the previous year, the company posted $28.29 earnings per share. The business's revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts predict that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AZO. Evercore raised their target price on AutoZone from $4,100.00 to $4,125.00 and gave the company an "outperform" rating in a report on Friday, February 27th. Robert W. Baird cut AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 target price for the company. in a report on Monday, February 9th. Truist Financial lowered their target price on AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Argus upgraded AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 target price for the company in a report on Monday, March 9th. Finally, UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has an average rating of "Moderate Buy" and a consensus price target of $4,312.13.

Insider Transactions at AutoZone

In related news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares of the company's stock, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

AutoZone 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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