Mitsubishi UFJ Asset Management Co. Ltd. Purchases 3,279 Shares of AutoZone, Inc. $AZO

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in AutoZone, Inc. (NYSE:AZO) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,915 shares of the company’s stock after purchasing an additional 3,279 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.76% of AutoZone worth $544,496,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after purchasing an additional 14 shares during the period. Sivia Capital Partners LLC acquired a new stake in AutoZone during the 2nd quarter worth about $356,000. Wealthfront Advisers LLC grew its stake in AutoZone by 3.3% during the 2nd quarter. Wealthfront Advisers LLC now owns 1,518 shares of the company’s stock valued at $5,635,000 after purchasing an additional 49 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in shares of AutoZone by 27.6% during the 2nd quarter. Transcend Capital Advisors LLC now owns 157 shares of the company’s stock valued at $583,000 after buying an additional 34 shares during the last quarter. Finally, May Hill Capital LLC boosted its holdings in AutoZone by 5.5% during the second quarter. May Hill Capital LLC now owns 58 shares of the company’s stock worth $215,000 after buying an additional 3 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Down 3.2%

Shares of NYSE AZO opened at $3,664.80 on Thursday. The firm’s 50-day moving average price is $3,582.80 and its two-hundred day moving average price is $3,834.94. AutoZone, Inc. has a 52-week low of $3,210.72 and a 52-week high of $4,388.11. The stock has a market capitalization of $60.73 billion, a P/E ratio of 25.56, a P/E/G ratio of 1.80 and a beta of 0.41.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the firm posted $32.52 earnings per share. AutoZone’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AZO shares. Mizuho restated a “neutral” rating and issued a $3,550.00 target price (down from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. Truist Financial dropped their price objective on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Barclays set a $3,880.00 target price on AutoZone in a research note on Thursday, January 8th. Evercore reissued an “outperform” rating and set a $4,100.00 price objective on shares of AutoZone in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group raised their price target on AutoZone from $4,234.00 to $4,274.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4,271.25.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Brian Hannasch purchased 147 shares of the business’s stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $3,393.09 per share, for a total transaction of $498,784.23. Following the completion of the purchase, the director directly owned 962 shares in the company, valued at approximately $3,264,152.58. This trade represents a 18.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the business’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at $9,719,900. This represents a 69.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have purchased 347 shares of company stock valued at $1,179,256 and have sold 9,447 shares valued at $34,179,923. 2.60% of the stock is owned by insiders.

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.