AutoZone, Inc. $AZO Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AutoZone by 17.1%, acquiring an additional 326 shares, bringing their total holdings to 2,232 shares worth approximately $8.5 million.
• Insider trading reports indicate that two senior executives sold significant shares of AutoZone in recent transactions, leading to a notable decrease in their individual ownership stakes.
• Analyst ratings for AutoZone are generally positive, with several investment firms raising their price targets significantly, leading to an average target price of $4,148.90 for the stock.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 17.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,232 shares of the company's stock after buying an additional 326 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in AutoZone were worth $8,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AZO. Brighton Jones LLC increased its position in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after purchasing an additional 14 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in AutoZone in the fourth quarter worth $3,019,000. Minot DeBlois Advisors LLC bought a new stake in AutoZone in the fourth quarter worth $45,000. NorthRock Partners LLC bought a new stake in AutoZone in the fourth quarter worth $311,000. Finally, Nomura Holdings Inc. bought a new position in shares of AutoZone in the 4th quarter valued at about $1,780,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insider Activity

In other news, SVP K. Michelle Borninkhof sold 750 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. This trade represents a 64.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This represents a 50.63% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company's stock.

AutoZone Trading Down 0.6%

Shares of NYSE AZO traded down $27.17 during mid-day trading on Friday, reaching $4,327.37. The company had a trading volume of 100,875 shares, compared to its average volume of 99,795. The business's 50-day moving average is $3,976.63 and its 200-day moving average is $3,767.21. The stock has a market cap of $72.61 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 2.30 and a beta of 0.41. AutoZone, Inc. has a 52 week low of $2,898.57 and a 52 week high of $4,388.11.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a "buy" rating in a research note on Monday, June 2nd. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and boosted their target price for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. UBS Group increased their price target on AutoZone from $4,260.00 to $4,925.00 and gave the company a "buy" rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, Barclays lifted their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the stock an "overweight" rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $4,229.38.

About AutoZone

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.