AutoZone, Inc. $AZO Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 61.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,245 shares of the company’s stock after purchasing an additional 2,384 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AutoZone were worth $26,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Laurel Wealth Advisors LLC lifted its holdings in shares of AutoZone by 371,123.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after buying an additional 935,230 shares during the period. Norges Bank purchased a new stake in shares of AutoZone in the second quarter valued at approximately $981,202,000. Vontobel Holding Ltd. grew its holdings in AutoZone by 277.3% during the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock worth $440,037,000 after acquiring an additional 75,382 shares during the period. Evelyn Partners Investment Management Services Ltd raised its position in AutoZone by 1,185.5% in the second quarter. Evelyn Partners Investment Management Services Ltd now owns 64,685 shares of the company’s stock worth $240,126,000 after acquiring an additional 59,653 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in AutoZone by 401.2% in the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock worth $222,247,000 after acquiring an additional 41,467 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Down 2.7%

NYSE:AZO opened at $3,612.86 on Friday. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The stock has a fifty day simple moving average of $3,644.59 and a 200-day simple moving average of $3,809.00. The company has a market capitalization of $59.87 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.90 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The firm had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.31 billion. During the same period in the prior year, the company earned $28.29 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Hannasch acquired 147 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $3,393.09 per share, with a total value of $498,784.23. Following the completion of the purchase, the director owned 962 shares in the company, valued at approximately $3,264,152.58. This represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 9,447 shares of company stock valued at $34,179,923. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AZO. Truist Financial lowered their price target on shares of AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. The Goldman Sachs Group raised their price objective on shares of AutoZone from $4,274.00 to $4,345.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Guggenheim decreased their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Barclays upped their target price on shares of AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of AutoZone from $4,100.00 to $4,300.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $4,318.38.

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.