Connor Clark & Lunn Investment Management Ltd. Takes $16.18 Million Position in AutoZone, Inc. (NYSE:AZO)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,136 shares of the company's stock, valued at approximately $16,179,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AZO. Capital Performance Advisors LLP bought a new stake in shares of AutoZone during the third quarter worth approximately $36,000. Meeder Asset Management Inc. raised its stake in shares of AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock worth $44,000 after buying an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC bought a new stake in shares of AutoZone during the third quarter worth approximately $47,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of AutoZone during the second quarter worth approximately $50,000. Finally, ORG Partners LLC bought a new stake in shares of AutoZone during the second quarter worth approximately $50,000. 92.74% of the stock is owned by institutional investors.

AutoZone Stock Up 1.1 %

AZO traded up $32.19 during trading hours on Thursday, hitting $3,081.77. 18,631 shares of the company's stock were exchanged, compared to its average volume of 138,032. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37. The stock's 50-day moving average is $3,112.05 and its two-hundred day moving average is $3,027.79. The stock has a market cap of $52.08 billion, a price-to-earnings ratio of 20.37, 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 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter in the previous year, the company posted $46.46 EPS. The business's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that AutoZone, Inc. will post 158.09 EPS for the current year.

Insider Buying and Selling

In other AutoZone news, Chairman William C. Rhodes III sold 300 shares of the company's stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares of the company's stock, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the company's 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $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. Over the last 90 days, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is owned by insiders.

Analysts Set New Price Targets

AZO has been the subject of a number of recent research reports. Citigroup dropped their price target on shares of AutoZone from $3,787.00 to $3,500.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Mizuho boosted their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 25th. Roth Capital raised shares of AutoZone to a "strong-buy" rating in a research note on Tuesday, October 15th. UBS Group boosted their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Finally, Wedbush restated an "outperform" rating and set a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of "Moderate Buy" and an average target price of $3,202.71.

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.