AutoZone, Inc.

New York Stock Exchange
Back to all articles
Slightly Bullish +25

TD Waterhouse Canada Inc. Acquires 1,281 Shares of AutoZone, Inc. $AZO - MarketBeat

AI-generated analysis

📈 TD Waterhouse Canada increased its AutoZone stake by 123.4% in Q2, adding 1,281 shares to a total holding of 2,319 shares valued at $7.47 million.

🏦 Institutional ownership stands at 92.74%, with notable additions from BlackRock, Morgan Stanley, T. Rowe Price, and Norges Bank in recent quarters.

💰 AutoZone's Board authorized a $1.5 billion share repurchase plan covering up to 3% of outstanding shares, indicating management confidence in undervaluation.

📊 Analyst consensus remains 'Moderate Buy' with an average price target of $3,999.04, though several major banks recently lowered their individual targets.

📉 VP Dennis LeRiche sold 1,455 shares at an average price of $3,100 in August, representing a 76.74% decrease in his personal ownership.

📈 AutoZone trades with a market cap of $48.70 billion and a P/E ratio of 20.50, currently trading near its 50-day moving average of $3,036.29.

🛠️ The company operates as a major retailer and distributor of automotive replacement parts, servicing both DIY consumers and professional repair shops.

Bullish Signals
  • TD Waterhouse Canada increased its stake by 123.4% in Q2, adding 1,281 shares to a total holding of 2,319 shares valued at $7.47 million.
  • Institutional ownership remains robust at 92.74%, with major funds like BlackRock and Morgan Stanley increasing or initiating positions.
  • The Board authorized a $1.5 billion share repurchase program covering up to 3% of outstanding stock, signaling confidence in the company's valuation.
Risk Factors
  • Several major analysts recently lowered price targets, with JPMorgan Chase cutting its target from $4,300 to $3,850 and Goldman Sachs reducing it from $4,345 to $4,096.
  • VP Dennis LeRiche sold 1,455 shares in August for a total of $4.51 million, representing a 76.74% decrease in his personal ownership stake.
Full Analysis
TD Waterhouse Canada Inc. significantly increased its stake in AutoZone, Inc. (NYSE: AZO) by 123.4% during the second quarter, acquiring an additional 1,281 shares for a total holding of 2,319 shares valued at approximately $7.47 million. This move contributes to a high institutional ownership level of 92.74%, with other major investors like BlackRock and Morgan Stanley also adjusting their positions in the automotive parts retailer. Analyst sentiment remains cautiously positive despite recent price target reductions from major firms including JPMorgan Chase, Goldman Sachs, and BNP Paribas. The consensus rating is a 'Moderate Buy' with an average price target of $3,999.04. Concurrently, AutoZone's Board of Directors authorized a new $1.5 billion share repurchase program, covering up to 3% of outstanding stock, signaling management's confidence in the company's valuation and future cash flow generation capabilities. The article provides detailed financial metrics for AutoZone, noting a market capitalization of $48.70 billion and a P/E ratio of 20.50. While VP Dennis LeRiche executed a significant insider sale of 1,455 shares in August, the company maintains a strong operational profile as a leading distributor of automotive replacement parts serving both DIY consumers and professional repair shops across the United States.