CIBC Private Wealth Group LLC Cuts Stock Position in AutoZone, Inc. (NYSE:AZO)

CIBC Private Wealth Group LLC decreased its holdings in AutoZone, Inc. (NYSE:AZO) by 2.9% in the 4th quarter, HoldingsChannel reports. The firm owned 20,769 shares of the company’s stock after selling 623 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in AutoZone were worth $68,607,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in AZO. Geode Capital Management LLC boosted its position in 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 buying an additional 7,365 shares during the period. Proficio Capital Partners LLC raised its stake in shares of AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after acquiring an additional 419,375 shares in the last quarter. Norges Bank purchased a new position in AutoZone in the fourth quarter valued at $834,556,000. PineStone Asset Management Inc. grew its stake in AutoZone by 6.9% during the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after purchasing an additional 13,771 shares in the last quarter. Finally, Marshfield Associates increased its holdings 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. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

NYSE AZO opened at $3,769.72 on Monday. The firm’s fifty day moving average is $3,483.80 and its two-hundred day moving average is $3,280.69. The firm has a market cap of $63.26 billion, a PE ratio of 25.19, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,838.00.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. Research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on AZO shares. Roth Capital set a $3,763.00 price objective on AutoZone in a research report on Wednesday, March 5th. Truist Financial boosted their price target on shares of AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. UBS Group raised their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Morgan Stanley boosted their target price on shares of AutoZone from $3,490.00 to $3,750.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company raised their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,683.36.

Insider Buying and Selling at AutoZone

In related news, SVP Bailey L. Childress sold 160 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total transaction of $568,000.00. Following the transaction, the senior vice president now owns 50 shares of the company’s stock, valued at $177,500. This represents a 76.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Philip B. Daniele sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now directly owns 163 shares of the company’s stock, valued at approximately $619,401.63. This trade represents a 92.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,721 shares of company stock valued at $24,609,331. 2.10% of the stock is owned by company insiders.

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.