CIBC Private Wealth Group LLC Lowers Holdings in AutoZone, Inc. (NYSE:AZO)

CIBC Private Wealth Group LLC trimmed its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,769 shares of the company’s stock after selling 623 shares during the period. CIBC Private Wealth Group LLC owned about 0.12% of AutoZone worth $68,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Flagship Wealth Advisors LLC purchased a new position in shares of AutoZone in the 4th quarter worth approximately $32,000. Harbour Investments Inc. lifted its holdings in shares of AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares during the period. Crews Bank & Trust purchased a new position in AutoZone during the 4th quarter worth approximately $61,000. McIlrath & Eck LLC lifted its stake in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock valued at $63,000 after acquiring an additional 4 shares during the period. Finally, Whipplewood Advisors LLC purchased a new stake in shares of AutoZone in the 4th quarter valued at $67,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Down 1.5 %

NYSE AZO opened at $3,769.72 on Monday. AutoZone, Inc. has a 52 week low of $2,728.97 and a 52 week high of $3,838.00. The business’s fifty day simple moving average is $3,483.80 and its 200-day simple 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 (NYSE:AZO) last posted its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. Research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. BMO Capital Markets raised their target price on shares of AutoZone from $3,700.00 to $3,850.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. Roth Capital set a $3,763.00 price objective on AutoZone in a research note on Wednesday, March 5th. Argus downgraded AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Wedbush reiterated an “outperform” rating and set a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. Finally, 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 research report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $3,683.36.

Insider Activity at AutoZone

In other AutoZone news, VP Dennis W. Leriche sold 1,575 shares of AutoZone stock in a transaction on Friday, March 7th. The stock was sold at an average price of $3,600.00, for a total value of $5,670,000.00. Following the sale, the vice president now owns 417 shares in the company, valued at $1,501,200. The trade was a 79.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the transaction, the chief executive officer now owns 163 shares of the company’s stock, valued at approximately $619,401.63. This represents a 92.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,721 shares of company stock worth $24,609,331. Insiders own 2.10% of the company’s stock.

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.