CIBC Asset Management Inc grew its position in AutoZone, Inc. (NYSE:AZO – Get Rating) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,061 shares of the company’s stock after acquiring an additional 11 shares during the period. CIBC Asset Management Inc’s holdings in AutoZone were worth $4,214,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of AZO. CWM LLC bought a new position in shares of AutoZone in the 4th quarter valued at about $769,000. Qube Research & Technologies Ltd grew its position in shares of AutoZone by 722.8% in the 4th quarter. Qube Research & Technologies Ltd now owns 44,209 shares of the company’s stock valued at $92,679,000 after acquiring an additional 38,836 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of AutoZone by 3.5% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,723 shares of the company’s stock worth $9,901,000 after buying an additional 161 shares during the last quarter. FDx Advisors Inc. lifted its stake in shares of AutoZone by 58.0% during the 4th quarter. FDx Advisors Inc. now owns 278 shares of the company’s stock worth $583,000 after buying an additional 102 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of AutoZone by 13.1% during the 4th quarter. Fifth Third Bancorp now owns 1,418 shares of the company’s stock worth $2,973,000 after buying an additional 164 shares during the last quarter. Institutional investors own 95.97% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on AZO. DA Davidson raised their target price on shares of AutoZone from $1,900.00 to $1,920.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 25th. Stephens raised their target price on shares of AutoZone from $2,195.00 to $2,285.00 and gave the stock an “overweight” rating in a research note on Thursday, May 26th. Wedbush restated an “outperform” rating on shares of AutoZone in a research note on Monday, May 23rd. MKM Partners began coverage on shares of AutoZone in a research note on Thursday, June 23rd. They set a “buy” rating and a $2,350.00 target price for the company. Finally, The Goldman Sachs Group upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and raised their target price for the stock from $1,969.00 to $2,296.00 in a research note on Monday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $2,169.41.
AutoZone Trading Up 1.4 %
AutoZone (NYSE:AZO – Get Rating) last issued its earnings results on Tuesday, May 24th. The company reported $29.03 EPS for the quarter, beating the consensus estimate of $25.87 by $3.16. The company had revenue of $3.87 billion during the quarter, compared to analysts’ expectations of $3.71 billion. AutoZone had a net margin of 15.21% and a negative return on equity of 92.10%. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $26.48 EPS. On average, research analysts predict that AutoZone, Inc. will post 115.12 EPS for the current fiscal year.
In other news, Director Brian Hannasch bought 133 shares of the company’s stock in a transaction dated Thursday, May 26th. The stock was bought at an average cost of $1,901.95 per share, for a total transaction of $252,959.35. Following the transaction, the director now owns 512 shares of the company’s stock, valued at $973,798.40. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Domingo Hurtado sold 395 shares of AutoZone stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $2,217.53, for a total transaction of $875,924.35. Following the sale, the vice president now directly owns 362 shares of the company’s stock, valued at approximately $802,745.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Hannasch purchased 133 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were bought at an average cost of $1,901.95 per share, for a total transaction of $252,959.35. Following the completion of the acquisition, 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. Corporate insiders own 2.60% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on AutoZone (AZO)
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