OMERS ADMINISTRATION Corp Has $3.03 Million Stock Holdings in AutoZone, Inc. $AZO

OMERS ADMINISTRATION Corp boosted its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 24.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 898 shares of the company’s stock after purchasing an additional 178 shares during the period. OMERS ADMINISTRATION Corp’s holdings in AutoZone were worth $3,033,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in AZO. Norges Bank acquired a new stake in AutoZone in the 4th quarter valued at $939,205,000. Morgan Stanley raised its stake in AutoZone by 17.8% during the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock worth $1,671,323,000 after acquiring an additional 74,555 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in AutoZone by 387.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock worth $263,832,000 after acquiring an additional 61,821 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of AutoZone by 39.5% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company’s stock valued at $584,730,000 after acquiring an additional 50,071 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of AutoZone by 80.8% during the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock valued at $432,059,000 after acquiring an additional 45,212 shares during the period. 92.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their target price on shares of AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. DA Davidson cut their price target on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. BMO Capital Markets reduced their price target on shares of AutoZone from $4,300.00 to $4,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Robert W. Baird decreased their price objective on shares of AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4,040.87.

Insiders Place Their Bets

In related news, Director Brian Hannasch acquired 165 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was purchased at an average price of $2,987.00 per share, for a total transaction of $492,855.00. Following the transaction, the director directly owned 1,219 shares of the company’s stock, valued at approximately $3,641,153. This trade represents a 15.65% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is owned by company insiders.

AutoZone Stock Performance

Shares of AZO stock opened at $3,117.96 on Wednesday. The stock’s fifty day moving average is $3,091.09 and its 200-day moving average is $3,400.36. The stock has a market capitalization of $50.92 billion, a PE ratio of 21.44, a PEG ratio of 1.56 and a beta of 0.33. AutoZone, Inc. has a 52 week low of $2,902.20 and a 52 week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, beating analysts’ consensus estimates of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the company posted $35.36 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone announced that its board has authorized a share repurchase program on Tuesday, June 16th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.