1,359 Shares in AutoZone, Inc. $AZO Acquired by Cibc World Market Inc.

Cibc World Market Inc. bought a new stake in AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,359 shares of the company’s stock, valued at approximately $4,342,000.

Other institutional investors also recently added to or reduced their stakes in the company. OMERS ADMINISTRATION Corp purchased a new stake in shares of AutoZone in the 2nd quarter valued at approximately $3,190,000. Osmosis Investment Management UK Ltd purchased a new position in AutoZone in the second quarter valued at $1,518,000. Solstein Capital LLC purchased a new position in AutoZone in the second quarter valued at $51,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in AutoZone in the second quarter valued at $55,031,000. Finally, Capital Square LLC acquired a new stake in AutoZone in the second quarter valued at $1,085,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis W. Leriche sold 1,455 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brian Hannasch purchased 165 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, for a total transaction of $492,855.00. Following the purchase, the director directly owned 1,219 shares in the company, valued at approximately $3,641,153. This represents a 15.65% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on AZO shares. JPMorgan Chase & Co. cut their price target on AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 27th. Morgan Stanley cut their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on AutoZone in a report on Wednesday, May 27th. Finally, Weiss Ratings cut AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4,029.43.

AutoZone Stock Up 0.5%

Shares of AZO opened at $3,023.78 on Wednesday. The company has a 50-day simple moving average of $3,050.91 and a 200-day simple moving average of $3,319.59. The company has a market capitalization of $49.38 billion, a PE ratio of 20.79, a P/E/G ratio of 1.53 and a beta of 0.33. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $38.07 EPS for the quarter, beating the consensus estimate of $36.22 by $1.85. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. AutoZone had a net margin of 12.40% and a negative return on equity of 80.35%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the business earned $35.36 earnings per share. On average, research analysts anticipate that AutoZone, Inc. will post 150.39 EPS for the current year.

AutoZone declared that its Board of Directors has authorized a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.