CIBC Asset Management Inc Has $7.87 Million Stock Holdings in AutoZone, Inc. (NYSE:AZO)

CIBC Asset Management Inc boosted its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,497 shares of the company’s stock after buying an additional 168 shares during the quarter. CIBC Asset Management Inc’s holdings in AutoZone were worth $7,866,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of AZO. International Assets Investment Management LLC raised its position in shares of AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock valued at $31,293,100,000 after acquiring an additional 993,139 shares during the last quarter. PineStone Asset Management Inc. increased its position in shares of AutoZone by 137.6% in the 2nd quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after buying an additional 179,543 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of AutoZone in the 2nd quarter valued at $424,000. Captrust Financial Advisors increased its position in shares of AutoZone by 564.2% in the 1st quarter. Captrust Financial Advisors now owns 152,091 shares of the company’s stock valued at $479,338,000 after buying an additional 129,193 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in shares of AutoZone by 2,714.8% in the 2nd quarter. Baillie Gifford & Co. now owns 120,194 shares of the company’s stock valued at $356,267,000 after buying an additional 115,924 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AZO. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. UBS Group raised their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wedbush restated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. Roth Capital upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, DA Davidson restated a “neutral” rating and issued a $3,025.00 price objective on shares of AutoZone in a report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, AutoZone currently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

AutoZone Stock Down 0.9 %

Shares of NYSE:AZO opened at $3,107.53 on Monday. AutoZone, Inc. has a 12-month low of $2,510.00 and a 12-month high of $3,256.37. The stock has a market cap of $52.52 billion, a PE ratio of 20.76, a P/E/G ratio of 1.57 and a beta of 0.71. The business has a 50 day moving average of $3,112.88 and a 200-day moving average of $3,025.11.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the firm posted $46.46 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts expect that AutoZone, Inc. will post 158.09 earnings per share for the current year.

Insider Activity

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. The trade was a 2.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,880 shares of company stock worth $46,225,660. Corporate insiders own 2.10% of the company’s stock.

About AutoZone

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides 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.