CIBC Private Wealth Group LLC grew its position in AutoZone, Inc. (NYSE:AZO) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,058 shares of the company’s stock after purchasing an additional 1,093 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.16% of AutoZone worth $34,420,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in AutoZone by 6.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,918 shares of the company’s stock valued at $1,287,000 after acquiring an additional 111 shares in the last quarter. Bank of Montreal Can boosted its position in AutoZone by 47.5% during the 3rd quarter. Bank of Montreal Can now owns 103,222 shares of the company’s stock valued at $80,070,000 after acquiring an additional 33,226 shares in the last quarter. PGGM Investments bought a new stake in AutoZone during the 3rd quarter valued at $4,985,000. First Manhattan Co. boosted its position in AutoZone by 66.0% during the 3rd quarter. First Manhattan Co. now owns 173,507 shares of the company’s stock valued at $134,589,000 after acquiring an additional 68,955 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in AutoZone during the 3rd quarter valued at $657,000. 88.94% of the stock is currently owned by institutional investors and hedge funds.
AZO has been the topic of several recent research reports. Morgan Stanley increased their target price on AutoZone from $800.00 to $870.00 in a research report on Thursday, December 27th. Argus increased their target price on AutoZone from $818.00 to $940.00 and gave the company a “buy” rating in a research report on Thursday, December 6th. Zacks Investment Research raised AutoZone from a “hold” rating to a “buy” rating and set a $975.00 target price on the stock in a research report on Monday, December 10th. Wells Fargo & Co reaffirmed a “buy” rating and set a $970.00 target price on shares of AutoZone in a research report on Tuesday, December 4th. Finally, Barclays reaffirmed a “buy” rating and set a $950.00 target price on shares of AutoZone in a research report on Wednesday, December 5th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $882.51.
AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $12.21 by $1.26. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. AutoZone had a negative return on equity of 102.31% and a net margin of 12.49%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $10.00 EPS. Research analysts expect that AutoZone, Inc. will post 59.7 earnings per share for the current fiscal year.
In related news, insider Ronald B. Griffin sold 21,000 shares of the firm’s stock in a transaction on Monday, December 17th. The stock was sold at an average price of $844.93, for a total value of $17,743,530.00. Following the completion of the transaction, the insider now owns 21,377 shares in the company, valued at approximately $18,062,068.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William T. Giles sold 13,500 shares of the firm’s stock in a transaction on Thursday, December 6th. The stock was sold at an average price of $870.11, for a total value of $11,746,485.00. Following the completion of the transaction, the vice president now owns 13,119 shares of the company’s stock, valued at approximately $11,414,973.09. The disclosure for this sale can be found here. Insiders sold a total of 46,790 shares of company stock valued at $40,211,001 in the last three months. Insiders own 2.80% of the company’s stock.
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AutoZone Company Profile
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, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.
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