CIBC Asset Management Inc Purchases 168 Shares of AutoZone, Inc. (NYSE:AZO)

CIBC Asset Management Inc raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,497 shares of the company’s stock after acquiring 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.

Other institutional investors have also bought and sold shares of the company. Peak Financial Advisors LLC bought a new stake in AutoZone during the second quarter valued at $2,816,000. Verde Capital Management bought a new stake in AutoZone during the third quarter valued at $1,137,000. Swedbank AB boosted its position in AutoZone by 5.6% during the second quarter. Swedbank AB now owns 16,524 shares of the company’s stock valued at $48,979,000 after acquiring an additional 869 shares during the last quarter. BDF Gestion bought a new stake in AutoZone during the second quarter valued at $3,044,000. Finally, National Bank of Canada FI boosted its position in AutoZone by 7.3% during the first quarter. National Bank of Canada FI now owns 9,930 shares of the company’s stock valued at $29,566,000 after acquiring an additional 679 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley upped their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Guggenheim upped their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Truist Financial upped their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a report on Monday, October 14th. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Finally, Mizuho upped their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

Insider Activity

In related news, Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 48.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock valued at $46,225,660 in the last three months. Company insiders own 2.10% of the company’s stock.

AutoZone Stock Down 0.9 %

AutoZone stock opened at $3,107.53 on Monday. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The firm has a 50 day moving average price of $3,112.88 and a 200-day moving average price of $3,025.11. The company has a market capitalization of $52.52 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO) last released its 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 company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same period in the prior year, the company earned $46.46 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. Equities analysts expect that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

AutoZone Company Profile

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.