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

CIBC Asset Management Inc raised its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Mather Group LLC. increased its stake in AutoZone by 1.8% during the second quarter. Mather Group LLC. now owns 224 shares of the company's stock valued at $706,000 after purchasing an additional 4 shares during the last quarter. Conning Inc. grew its holdings in shares of AutoZone by 4.3% during the second quarter. Conning Inc. now owns 98 shares of the company's stock valued at $290,000 after purchasing an additional 4 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of AutoZone by 14.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company's stock worth $95,000 after purchasing an additional 4 shares during the period. Brighton Jones LLC lifted its holdings in shares of AutoZone by 4.1% in the 2nd quarter. Brighton Jones LLC now owns 101 shares of the company's stock worth $299,000 after purchasing an additional 4 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in AutoZone by 2.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company's stock valued at $490,000 after purchasing an additional 4 shares during the period. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AZO shares. DA Davidson reiterated a "neutral" rating and issued a $3,025.00 target price on shares of AutoZone in a research note on Monday, September 30th. Guggenheim boosted their target price on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Evercore ISI raised their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an "outperform" rating in a research note on Thursday, October 3rd. Truist Financial boosted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Finally, Roth Mkm restated a "buy" rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, AutoZone has a consensus rating of "Moderate Buy" and a consensus price target of $3,202.71.

Insider Buying and Selling at AutoZone

In other news, VP John Scott Murphy sold 1,580 shares of AutoZone stock in a transaction 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 transaction, the vice president now owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman William C. Rhodes III sold 13,000 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company's stock, valued at approximately $43,055,777.55. This represents a 48.40 % 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 valued at $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of NYSE AZO traded up $59.40 during trading on Monday, hitting $3,166.93. The company had a trading volume of 130,346 shares, compared to its average volume of 138,641. AutoZone, Inc. has a 52 week low of $2,510.00 and a 52 week high of $3,256.37. The business's 50-day moving average is $3,112.88 and its 200 day moving average is $3,025.11. The company has a market cap of $53.52 billion, a P/E ratio of 20.76, a PEG ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same period last year, the firm earned $46.46 earnings per share. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. On average, research analysts expect that AutoZone, Inc. will post 158.09 EPS 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.