Global X Japan Co. Ltd. Purchases 521 Shares of AutoZone, Inc. $AZO

Global X Japan Co. Ltd. boosted its position in AutoZone, Inc. (NYSE:AZO) by 342.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 673 shares of the company’s stock after purchasing an additional 521 shares during the period. Global X Japan Co. Ltd.’s holdings in AutoZone were worth $2,282,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in AutoZone in the 2nd quarter valued at $981,202,000. Vontobel Holding Ltd. raised its holdings in shares of AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company’s stock valued at $440,037,000 after purchasing an additional 75,382 shares during the last quarter. AQR Capital Management LLC raised its holdings 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 valued at $432,059,000 after purchasing an additional 45,212 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of AutoZone by 401.2% during the third quarter. Victory Capital Management Inc. now owns 51,803 shares of the company’s stock valued at $222,247,000 after purchasing an additional 41,467 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in AutoZone by 36.4% during the second quarter. Invesco Ltd. now owns 153,096 shares of the company’s stock worth $568,329,000 after purchasing an additional 40,862 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In other news, Director Earl G. Graves, Jr. sold 250 shares of AutoZone stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total value of $823,750.00. Following the completion of the transaction, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Richard Craig Smith sold 5,910 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. This trade represents a 69.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,447 shares of company stock worth $34,179,923. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Argus upgraded shares of AutoZone from a “hold” rating to a “buy” rating and set a $4,325.00 price objective for the company in a research note on Monday, March 9th. Guggenheim reduced their target price on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Roth Mkm decreased their price target on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Oppenheimer reissued an “outperform” rating and issued a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research report on Tuesday, March 10th. Finally, Truist Financial decreased their target price on AutoZone from $4,076.00 to $4,045.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $4,312.13.

AutoZone Stock Performance

Shares of AZO opened at $3,390.05 on Friday. The business has a 50-day moving average of $3,647.14 and a 200 day moving average of $3,753.56. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The firm has a market cap of $55.86 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.73 and a beta of 0.41.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same period in the prior year, the firm earned $28.29 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

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.