CIBC Asset Management Inc Raises Stock Holdings in AutoZone, Inc. (NYSE:AZO)

CIBC Asset Management Inc lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,600 shares of the company’s stock after acquiring an additional 103 shares during the period. CIBC Asset Management Inc’s holdings in AutoZone were worth $8,325,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AZO. International Assets Investment Management LLC grew its position in AutoZone by 354,692.5% during the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after purchasing an additional 993,139 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of AutoZone by 1.8% during the third quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after buying an additional 7,365 shares during the period. PineStone Asset Management Inc. grew its holdings in shares of AutoZone by 6.9% during the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after buying an additional 13,771 shares during the last quarter. Marshfield Associates increased its position in AutoZone by 0.5% in the 3rd quarter. Marshfield Associates now owns 169,586 shares of the company’s stock valued at $534,204,000 after acquiring an additional 796 shares during the period. Finally, Baillie Gifford & Co. increased its position in AutoZone by 35.6% in the 4th quarter. Baillie Gifford & Co. now owns 163,089 shares of the company’s stock valued at $522,211,000 after acquiring an additional 42,776 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Up 0.4 %

Shares of AZO stock opened at $3,398.16 on Thursday. The company has a market capitalization of $57.02 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 1.91 and a beta of 0.70. The firm has a 50-day moving average price of $3,320.42 and a 200 day moving average price of $3,203.12. AutoZone, Inc. has a twelve month low of $2,680.96 and a twelve month high of $3,484.42.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing the consensus estimate of $33.69 by ($1.17). The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.30 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $32.55 earnings per share. As a group, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AZO. Truist Financial boosted their target price on AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Wells Fargo & Company boosted their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Barclays raised their target price on shares of AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a research note on Thursday, January 9th. Evercore ISI boosted their price target on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Finally, Citigroup raised their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $3,429.84.

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.