CIBC Asset Management Inc Boosts Stake in AutoZone, Inc. (NYSE:AZO)

CIBC Asset Management Inc grew its position in AutoZone, Inc. (NYSE:AZO) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,600 shares of the company’s stock after acquiring an additional 103 shares during the quarter. CIBC Asset Management Inc’s holdings in AutoZone were worth $8,325,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

AZO has been the subject of several analyst reports. Mizuho upped their target price on AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Citigroup upped their price target on AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Barclays raised their price target on shares of AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Finally, Evercore ISI boosted their price objective on shares of AutoZone from $3,400.00 to $3,450.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3,429.84.

AutoZone Stock Performance

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

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 10th. The company reported $32.52 EPS for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $32.55 earnings per share. Equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

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.