AutoZone, Inc. (NYSE:AZO) Position Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in shares of AutoZone, Inc. (NYSE:AZOGet Rating) by 0.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,061 shares of the company’s stock after purchasing an additional 11 shares during the period. CIBC Asset Management Inc’s holdings in AutoZone were worth $4,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. HighTower Trust Services LTA boosted its position in shares of AutoZone by 2.4% during the 1st quarter. HighTower Trust Services LTA now owns 214 shares of the company’s stock valued at $438,000 after purchasing an additional 5 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of AutoZone by 3.4% during the 1st quarter. Parallel Advisors LLC now owns 153 shares of the company’s stock valued at $316,000 after purchasing an additional 5 shares in the last quarter. Glassman Wealth Services boosted its holdings in shares of AutoZone by 10.5% in the first quarter. Glassman Wealth Services now owns 63 shares of the company’s stock worth $129,000 after buying an additional 6 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of AutoZone by 0.4% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 1,550 shares of the company’s stock worth $3,169,000 after buying an additional 6 shares during the period. Finally, Wedbush Securities Inc. boosted its holdings in shares of AutoZone by 4.3% in the first quarter. Wedbush Securities Inc. now owns 170 shares of the company’s stock worth $348,000 after buying an additional 7 shares during the period. Institutional investors own 95.97% of the company’s stock.

AutoZone Stock Performance

Shares of NYSE:AZO opened at $2,195.19 on Friday. AutoZone, Inc. has a 52 week low of $1,503.30 and a 52 week high of $2,267.40. The company’s fifty day moving average is $2,119.73 and its 200-day moving average is $2,032.20. The company has a market capitalization of $42.78 billion, a PE ratio of 19.47, a P/E/G ratio of 1.63 and a beta of 0.78.

AutoZone (NYSE:AZOGet Rating) last released its quarterly earnings results on Tuesday, May 24th. The company reported $29.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $25.87 by $3.16. AutoZone had a negative return on equity of 92.10% and a net margin of 15.21%. The business had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $26.48 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts forecast that AutoZone, Inc. will post 115.12 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brian Hannasch purchased 133 shares of the stock in a transaction dated Thursday, May 26th. The stock was bought at an average cost of $1,901.95 per share, with a total value of $252,959.35. Following the purchase, the director now directly owns 512 shares in the company, valued at approximately $973,798.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO William C. Rhodes III sold 2,958 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $2,206.33, for a total value of $6,526,324.14. Following the completion of the transaction, the chief executive officer now directly owns 15,935 shares in the company, valued at approximately $35,157,868.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch acquired 133 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was acquired at an average price of $1,901.95 per share, with a total value of $252,959.35. Following the completion of the transaction, the director now directly owns 512 shares in the company, valued at approximately $973,798.40. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AZO shares. Wedbush reiterated an “outperform” rating on shares of AutoZone in a report on Monday, May 23rd. The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and raised their price target for the stock from $1,969.00 to $2,296.00 in a report on Monday, June 27th. Citigroup raised their price objective on shares of AutoZone from $2,210.00 to $2,250.00 in a research report on Friday, May 13th. Morgan Stanley raised shares of AutoZone from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $2,125.00 to $2,420.00 in a research report on Thursday, June 16th. Finally, Raymond James lifted their price target on shares of AutoZone from $2,100.00 to $2,400.00 and gave the company an “outperform” rating in a research report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,169.41.

AutoZone Profile

(Get Rating)

AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.

Recommended Stories

Want to see what other hedge funds are holding AZO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AutoZone, Inc. (NYSE:AZOGet Rating).

Institutional Ownership by Quarter for AutoZone (NYSE:AZO)

Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.