Mitsubishi UFJ Asset Management UK Ltd. Grows Stock Holdings in AutoZone, Inc. $AZO

Mitsubishi UFJ Asset Management UK Ltd. lifted its position in shares of AutoZone, Inc. (NYSE:AZO) by 75.0% in the third quarter, HoldingsChannel.com reports. The firm owned 700 shares of the company’s stock after purchasing an additional 300 shares during the period. AutoZone comprises 1.4% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 16th largest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in AutoZone were worth $3,003,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Harbour Investments Inc. lifted its holdings in AutoZone by 27.3% in the 2nd quarter. Harbour Investments Inc. now owns 14 shares of the company’s stock worth $52,000 after buying an additional 3 shares during the period. May Hill Capital LLC raised its holdings in shares of AutoZone by 5.5% during the second quarter. May Hill Capital LLC now owns 58 shares of the company’s stock valued at $215,000 after acquiring an additional 3 shares in the last quarter. NewSquare Capital LLC raised its holdings in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after acquiring an additional 3 shares in the last quarter. Westpac Banking Corp lifted its stake in AutoZone by 2.6% in the second quarter. Westpac Banking Corp now owns 118 shares of the company’s stock worth $438,000 after acquiring an additional 3 shares during the period. Finally, AlphaCore Capital LLC boosted its holdings in AutoZone by 42.9% in the second quarter. AlphaCore Capital LLC now owns 10 shares of the company’s stock valued at $37,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

Insider Transactions at AutoZone

In related news, Director Michael A. George purchased 145 shares of AutoZone stock in a transaction dated Monday, December 22nd. The stock was purchased at an average cost of $3,398.13 per share, for a total transaction of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares of the company’s stock, valued at $1,923,341.58. The trade was a 34.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of the company’s stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the completion of the transaction, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. The trade was a 69.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders bought 347 shares of company stock valued at $1,179,256 and sold 9,447 shares valued at $34,179,923. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AZO shares. JPMorgan Chase & Co. decreased their price objective on shares of AutoZone from $4,850.00 to $4,100.00 and set an “overweight” rating for the company in a report on Thursday, December 18th. Erste Group Bank downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research note on Friday, October 31st. Roth Mkm restated a “buy” rating and issued a $4,650.00 price objective (down from $4,750.00) on shares of AutoZone in a report on Wednesday, December 10th. Wells Fargo & Company reduced their target price on AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $4,400.00 target price on shares of AutoZone in a research report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,271.25.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,751.33 on Friday. The company has a 50 day simple moving average of $3,563.31 and a two-hundred day simple moving average of $3,842.43. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The company has a market capitalization of $62.16 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 1.78 and a beta of 0.41.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $32.52 EPS. On average, analysts forecast 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.