AutoZone, Inc.

New York Stock Exchange
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Slightly Bullish +15

AutoZone, Inc. $AZO Stock Position Lowered by Canoe Financial LP

AI-generated analysis

📉 Canoe Financial LP reduced its AutoZone position by 10% (4,930 shares) in Q1, holding 44,461 shares valued at $150.18 million.

📈 Norges Bank added a new stake worth $939.2 million, while Morgan Stanley increased holdings by 17.8% to 492,794 shares.

📈 Northwestern Mutual Wealth Management Co. surged its position by 387.1%, acquiring an additional 61,821 shares.

📈 Mitsubishi UFJ Asset Management raised its stake by 39.5% to own 176,986 shares valued at $584.73 million.

📈 AQR Capital Management lifted its position by 80.8% in Q3, now owning 101,185 shares worth $432.06 million.

💰 AutoZone reported Q1 EPS of $38.07, beating the consensus estimate of $36.22 by $1.85.

📊 Revenue reached $4.84 billion for the quarter, representing an 8.4% year-over-year increase.

🎯 Oppenheimer raised its price target to $4,300 and reaffirmed an 'outperform' rating on AutoZone stock.

📉 Roth MKM lowered its price objective from $4,526 to $4,023 while maintaining a 'buy' rating.

📉 JPMorgan Chase reduced its target price from $4,300 to $3,850 with an 'overweight' rating.

📉 Robert W. Baird dropped its target price from $3,900 to $3,600 and set a 'neutral' rating.

🔄 The Board of Directors approved a new $1.5 billion share buyback program authorized on June 16th.

📉 Mizuho decreased its price target from $3,600 to $3,200 with a 'neutral' rating.

📈 AutoZone stock has a market cap of $51.07 billion and a P/E ratio of 21.50.

📉 The stock is trading below its 50-day moving average of $3,288.33 and 200-day average of $3,454.36.

Bullish Signals
  • AutoZone reported Q1 earnings per share of $38.07, which topped the consensus estimate of $36.22 by $1.85.
  • Revenue for the quarter was $4.84 billion, up 8.4% compared to the same period in the prior year.
  • Major institutional investors including Norges Bank ($939M stake), Morgan Stanley, and Northwestern Mutual significantly increased their holdings.
  • Oppenheimer raised its price target to $4,300 and maintained an 'outperform' rating on the stock.
  • The company's Board of Directors approved a new $1.5 billion share buyback program to repurchase up to 3% of outstanding shares.
Risk Factors
  • Roth MKM decreased its price objective from $4,526 to $4,023 despite maintaining a 'buy' rating.
  • Robert W. Baird lowered its target price from $3,900 to $3,600 and assigned a 'neutral' rating.
  • JPMorgan Chase reduced its price target from $4,300 to $3,850 while keeping an 'overweight' rating.
  • Mizuho decreased its price target from $3,600 to $3,200 and set a 'neutral' rating.
  • The stock is currently trading below its 50-day moving average of $3,288.33 and 200-day moving average of $3,454.36.
Full Analysis
AutoZone, Inc. (NYSE: AZO) saw mixed institutional activity in the first quarter of 2026, highlighted by Canoe Financial LP reducing its stake by 10% to 44,461 shares. Conversely, major investors like Norges Bank, Morgan Stanley, Northwestern Mutual, Mitsubishi UFJ, and AQR Capital Management increased their holdings significantly, with some adding over $500 million in value during the fourth quarter. Overall, institutional ownership remains high at 92.74%. Following a recent earnings beat where the company reported $38.07 EPS against estimates of $36.22 and revenue of $4.84 billion, analyst sentiment has diverged. While Oppenheimer raised its price target to $4,300 with an 'outperform' rating, several major firms including Roth MKM, Robert W. Baird, JPMorgan Chase, and Mizuho lowered their price targets between $3,200 and $4,023, citing a 'buy' or 'overweight' stance despite the cuts. The stock currently trades at a market cap of $51.07 billion with a P/E ratio of 21.50. On June 16th, AutoZone's Board approved a new $1.5 billion share buyback program, authorizing the repurchase of up to 3% of outstanding shares. This move signals management's confidence in the stock's valuation and commitment to returning capital to shareholders.