Mitsubishi UFJ Asset Management UK Ltd. Sells 200 Shares of AutoZone, Inc. (NYSE:AZO)

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. sold 200 shares of AutoZone, Inc., reducing its stake by 25.0% and now holds 600 shares valued at approximately $2.29 million.
• Institutional investors currently own 92.74% of AutoZone's stock, showing significant institutional interest in the company.
• A number of analysts have set target prices for AutoZone stock, with estimates ranging up to $4,200.00, reflecting a consensus rating of "Buy."

Mitsubishi UFJ Asset Management UK Ltd. lowered its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 25.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 600 shares of the company's stock after selling 200 shares during the quarter. AutoZone accounts for about 1.2% of Mitsubishi UFJ Asset Management UK Ltd.'s investment portfolio, making the stock its 19th biggest position. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in AutoZone were worth $2,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AZO. Blue Trust Inc. grew its stake in AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company's stock worth $339,000 after buying an additional 3 shares during the last quarter. Colonial Trust Co SC grew its stake in AutoZone by 24.5% during the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after buying an additional 12 shares during the last quarter. Comerica Bank grew its stake in AutoZone by 5.4% during the fourth quarter. Comerica Bank now owns 4,262 shares of the company's stock worth $13,647,000 after buying an additional 217 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in AutoZone by 10.1% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company's stock worth $11,267,000 after buying an additional 271 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN grew its stake in AutoZone by 0.9% during the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company's stock worth $29,591,000 after buying an additional 68 shares during the last quarter. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group set a $3,811.00 target price on shares of AutoZone in a research report on Friday, May 23rd. Truist Financial set a $3,995.00 target price on shares of AutoZone in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $4,087.00.

AutoZone Stock Up 0.9%

Shares of AutoZone stock opened at $4,038.42 on Thursday. AutoZone, Inc. has a twelve month low of $2,898.57 and a twelve month high of $4,094.69. The company has a 50-day simple moving average of $3,754.31 and a two-hundred day simple moving average of $3,656.84. The stock has a market capitalization of $67.76 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 2.39 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.41 billion. During the same quarter last year, the firm earned $36.69 EPS. AutoZone's revenue for the quarter was up 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the completion of the transaction, the chief financial officer directly owned 427 shares in the company, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business'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 completion of the transaction, the senior vice president owned 406 shares of the company's stock, valued at $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,862 shares of company stock valued at $126,058,789 over the last quarter. 2.10% of the stock is owned by corporate insiders.

AutoZone Company 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.

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