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

CIBC Asset Management Inc lifted its holdings in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,600 shares of the company's stock after purchasing 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings 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 purchasing an additional 993,139 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of AutoZone during the 4th quarter worth $471,629,000. The Manufacturers Life Insurance Company increased its holdings in AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company's stock worth $292,544,000 after acquiring an additional 60,483 shares during the last quarter. Canoe Financial LP raised its stake in AutoZone by 542.8% in the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company's stock valued at $200,032,000 after acquiring an additional 52,753 shares during the period. Finally, Baillie Gifford & Co. raised its stake 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 hedge funds and other institutional investors.

AutoZone Price Performance

AZO stock traded down $40.46 during mid-day trading on Friday, hitting $3,366.20. 30,338 shares of the stock were exchanged, compared to its average volume of 100,273. The business has a fifty day moving average price of $3,321.68 and a 200 day moving average price of $3,204.55. AutoZone, Inc. has a 12 month low of $2,708.09 and a 12 month high of $3,484.42. The stock has a market capitalization of $56.49 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.88 and a beta of 0.70.

AutoZone (NYSE:AZO - Get Free Report) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts' consensus estimates of $33.69 by ($1.17). The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $32.55 EPS. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AZO. Evercore ISI lifted their target price 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. Mizuho lifted their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. BMO Capital Markets began coverage on AutoZone in a research report on Friday, December 13th. They set an "outperform" rating and a $3,700.00 target price on the stock. Truist Financial raised their price target on AutoZone from $3,501.00 to $3,753.00 and gave the stock a "buy" rating in a report on Wednesday, December 11th. Finally, Barclays boosted their price objective on AutoZone from $3,024.00 to $3,585.00 and gave the company an "overweight" rating in a research note on Thursday, January 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, AutoZone presently has a consensus rating of "Moderate Buy" and an average target price of $3,429.84.

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.