AutoZone, Inc. $AZO Shares Sold by Canoe Financial LP

Canoe Financial LP lessened its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.4% in the third quarter, Holdings Channel.com reports. The firm owned 51,746 shares of the company’s stock after selling 4,165 shares during the period. AutoZone makes up about 3.2% of Canoe Financial LP’s investment portfolio, making the stock its 6th largest position. Canoe Financial LP’s holdings in AutoZone were worth $222,003,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the last quarter. American Century Companies Inc. grew its stake in shares of AutoZone by 1.3% during the 1st quarter. American Century Companies Inc. now owns 1,597 shares of the company’s stock worth $6,089,000 after acquiring an additional 20 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of AutoZone by 150.0% in the first quarter. AlphaQuest LLC now owns 65 shares of the company’s stock valued at $248,000 after purchasing an additional 39 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of AutoZone in the first quarter valued at approximately $214,000. Finally, Landscape Capital Management L.L.C. lifted its position in shares of AutoZone by 50.3% in the first quarter. Landscape Capital Management L.L.C. now owns 1,351 shares of the company’s stock worth $5,151,000 after purchasing an additional 452 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on AZO. BMO Capital Markets lowered their price target on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Baird R W raised AutoZone to a “strong-buy” rating in a research report on Thursday, December 4th. Evercore ISI reissued an “outperform” rating and set a $4,100.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. JPMorgan Chase & Co. decreased their price target on AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a research note on Thursday, December 18th. Finally, Raymond James Financial dropped their price objective on AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,317.27.

AutoZone Stock Down 0.1%

NYSE:AZO opened at $3,459.81 on Friday. AutoZone, Inc. has a 12-month low of $3,162.00 and a 12-month high of $4,388.11. The firm has a market capitalization of $57.33 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 1.64 and a beta of 0.40. The stock’s 50 day moving average price is $3,727.06 and its two-hundred day moving average price is $3,875.47.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing analysts’ consensus estimates of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same period in the previous year, the firm posted $32.52 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its board has approved a stock repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at AutoZone

In related news, Director Brian Hannasch bought 147 shares of AutoZone stock in a transaction that occurred on Thursday, December 18th. The stock was acquired at an average price of $3,393.09 per share, with a total value of $498,784.23. Following the acquisition, the director owned 962 shares of the company’s stock, valued at approximately $3,264,152.58. This represents a 18.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Philip B. Daniele sold 2,533 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total transaction of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares in the company, valued at approximately $221,148.40. This represents a 97.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders acquired 347 shares of company stock valued at $1,179,256. Corporate insiders own 2.60% of the company’s stock.

About AutoZone

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.