Mitsubishi UFJ Asset Management Co. Ltd. Purchases 50,071 Shares of AutoZone, Inc. $AZO

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 39.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 176,986 shares of the company's stock after buying an additional 50,071 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 1.07% of AutoZone worth $584,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AZO. AQR Capital Management LLC raised its position in shares of AutoZone by 80.8% during the 3rd quarter. AQR Capital Management LLC now owns 101,185 shares of the company's stock valued at $432,059,000 after buying an additional 45,212 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of AutoZone by 401.2% during the 3rd quarter. Victory Capital Management Inc. now owns 51,803 shares of the company's stock valued at $222,247,000 after buying an additional 41,467 shares in the last quarter. Rakuten Investment Management Inc. purchased a new stake in shares of AutoZone during the 3rd quarter valued at $149,656,000. Vanguard Group Inc. raised its position in shares of AutoZone by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company's stock valued at $7,711,912,000 after buying an additional 26,544 shares in the last quarter. Finally, Capital World Investors raised its position in AutoZone by 1,298.2% in the 3rd quarter. Capital World Investors now owns 24,818 shares of the company's stock worth $106,475,000 after purchasing an additional 23,043 shares during the period. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of AutoZone from $4,076.00 to $4,045.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Mizuho lifted their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. The Goldman Sachs Group lifted their target price on shares of AutoZone from $4,274.00 to $4,345.00 and gave the stock a "buy" rating in a research report on Wednesday, March 4th. BMO Capital Markets decreased their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Finally, Robert W. Baird cut shares of AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 target price on the stock. in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $4,312.13.

Insider Buying and Selling

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the completion of the transaction, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. This represents a 1.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company's stock.

AutoZone Trading Up 1.6%

Shares of AZO stock opened at $3,539.07 on Wednesday. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The stock has a market cap of $58.32 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.78 and a beta of 0.43. The company has a 50 day simple moving average of $3,540.48 and a two-hundred day simple moving average of $3,624.16.

AutoZone (NYSE:AZO - Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $4.31 billion. During the same period in the prior year, the company earned $28.29 earnings per share. The firm's revenue was up 8.2% on a year-over-year basis. As a group, equities analysts forecast that AutoZone, Inc. will post 148.93 earnings per share for the current year.

About AutoZone

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.

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