Mitsubishi UFJ Asset Management UK Ltd. Sells 500 Shares of AutoZone, Inc. (NYSE:AZO)

Mitsubishi UFJ Asset Management UK Ltd. reduced its stake in AutoZone, Inc. (NYSE:AZO) by 33.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,000 shares of the company’s stock after selling 500 shares during the quarter. AutoZone makes up 1.6% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 13th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in AutoZone were worth $3,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SageView Advisory Group LLC bought a new stake in shares of AutoZone in the 4th quarter valued at about $284,000. Nomura Holdings Inc. purchased a new stake in shares of AutoZone during the 4th quarter worth $879,000. CWM LLC boosted its position in AutoZone by 5.7% during the first quarter. CWM LLC now owns 335 shares of the company’s stock valued at $1,056,000 after purchasing an additional 18 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in AutoZone by 381.4% in the first quarter. Banque Cantonale Vaudoise now owns 284 shares of the company’s stock valued at $895,000 after purchasing an additional 225 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in AutoZone by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 1,497 shares of the company’s stock worth $4,718,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial boosted their price objective on shares of AutoZone from $3,341.00 to $3,501.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a report on Tuesday, October 1st. Oppenheimer restated a “market perform” rating and set a $2,600.00 target price on shares of AutoZone in a research note on Wednesday, June 26th. UBS Group increased their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Wedbush restated an “outperform” rating and set a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Stock Up 0.8 %

Shares of NYSE AZO traded up $24.07 during midday trading on Friday, reaching $3,182.07. 113,374 shares of the stock were exchanged, compared to its average volume of 140,100. The firm has a market cap of $54.36 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 1.59 and a beta of 0.70. The firm has a 50-day simple moving average of $3,133.09 and a two-hundred day simple moving average of $3,008.48. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the prior year, the business posted $46.46 EPS. AutoZone’s revenue was up 9.0% compared to the same quarter last year. Research analysts expect that AutoZone, Inc. will post 157.99 EPS for the current fiscal year.

Insider Activity

In related news, VP John Scott Murphy sold 1,580 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares of the company’s stock, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of AutoZone stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total transaction of $40,392,950.00. Following the transaction, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 over the last three months. Insiders own 2.50% of the company’s stock.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.