OMERS ADMINISTRATION Corp Acquires 178 Shares of AutoZone, Inc. $AZO

OMERS ADMINISTRATION Corp grew its stake in AutoZone, Inc. (NYSE:AZO) by 24.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 898 shares of the company’s stock after buying 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.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in AutoZone in the 4th quarter worth approximately $939,205,000. Morgan Stanley raised its position in shares of AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company’s stock valued at $1,671,323,000 after purchasing an additional 74,555 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company’s stock valued at $263,832,000 after purchasing an additional 61,821 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AutoZone by 39.5% in 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 purchasing an additional 50,071 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of AutoZone by 80.8% in the third quarter. AQR Capital Management LLC now owns 101,185 shares of the company’s stock worth $432,059,000 after buying an additional 45,212 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on AZO shares. Robert W. Baird lowered their target price 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. Guggenheim decreased their price target on shares of AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. The Goldman Sachs Group lowered their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Mizuho dropped their price objective on AutoZone from $3,600.00 to $3,200.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 27th. Finally, Truist Financial set a $3,700.00 price objective on AutoZone in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $4,040.87.

Insider Activity at AutoZone

In other news, Director Brian Hannasch acquired 165 shares of the firm’s stock in a transaction dated Friday, May 29th. The shares were bought at an average price of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director owned 1,219 shares of the company’s stock, valued at $3,641,153. This trade represents a 15.65% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

NYSE AZO opened at $3,117.96 on Wednesday. The firm has a 50-day simple moving average of $3,091.09 and a 200 day simple moving average of $3,400.36. AutoZone, Inc. has a twelve month low of $2,902.20 and a twelve month high of $4,388.11. The stock has a market cap of $50.92 billion, a PE ratio of 21.44, a PEG ratio of 1.56 and a beta of 0.33.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share for the quarter, topping 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 business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same period last year, the business earned $35.36 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts forecast that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has approved a stock repurchase program on Tuesday, June 16th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the company to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are 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.