TD Waterhouse Canada Inc. Boosts Holdings in AutoZone, Inc. $AZO

TD Waterhouse Canada Inc. increased its position in AutoZone, Inc. (NYSE:AZO) by 123.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,319 shares of the company’s stock after purchasing an additional 1,281 shares during the period. TD Waterhouse Canada Inc.’s holdings in AutoZone were worth $7,469,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AZO. Turning Point Benefit Group Inc. bought a new stake in AutoZone during the 3rd quarter valued at about $25,000. Transamerica Financial Advisors LLC lifted its stake in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after buying an additional 4 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of AutoZone in the second quarter worth approximately $29,000. MCF Advisors LLC grew its holdings in shares of AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock valued at $31,000 after buying an additional 3 shares during the last quarter. Finally, Bard Associates Inc. bought a new stake in shares of AutoZone during the fourth quarter valued at approximately $31,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AZO. Evercore restated an “outperform” rating on shares of AutoZone in a report on Tuesday, May 26th. DA Davidson reduced their target price on AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. TD Cowen decreased their price target on AutoZone from $3,700.00 to $3,500.00 and set a “buy” rating for the company in a research note on Monday, August 31st. Raymond James Financial restated a “strong-buy” rating on shares of AutoZone in a research note on Wednesday, May 27th. Finally, Guggenheim lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and an average price target of $3,999.04.

AutoZone Trading Up 0.5%

Shares of AZO stock opened at $2,981.99 on Friday. AutoZone, Inc. has a 12-month low of $2,902.20 and a 12-month high of $4,388.11. The stock has a market capitalization of $48.70 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.49 and a beta of 0.34. The firm’s 50 day moving average is $3,036.29 and its 200 day moving average is $3,280.85.

AutoZone declared that its board has authorized a share repurchase plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.60% of the stock is owned by insiders.

AutoZone 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.