Mitsubishi UFJ Trust & Banking Corp Trims Holdings in AutoZone, Inc. $AZO

Key Points

• Mitsubishi UFJ Trust & Banking Corp trimmed its AutoZone stake by 23.1% in Q4, selling 5,254 shares and leaving 17,479 shares worth about $59.28 million (0.11% of the company).
• Analysts hold a consensus rating of Moderate Buy for AZO with an average target of $4,312.13, supported by 21 Buy, 6 Hold and recent target adjustments from major firms.
• AutoZone reported quarterly EPS of $27.63, slightly beating estimates while revenue of $4.27 billion missed forecasts, and the stock trades with a market cap of about $58.7 billion and a P/E near 25.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,479 shares of the company's stock after selling 5,254 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.11% of AutoZone worth $59,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of AZO. Turning Point Benefit Group Inc. acquired a new stake in AutoZone during the 3rd quarter valued at approximately $25,000. Raleigh Capital Management Inc. purchased a new stake in shares of AutoZone in the 3rd quarter valued at $26,000. Global Trust Asset Management LLC increased its stake in shares of AutoZone by 600.0% in the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company's stock worth $30,000 after acquiring an additional 6 shares during the period. Salomon & Ludwin LLC acquired a new stake in shares of AutoZone in the third quarter worth $34,000. Finally, Elevated Capital Advisors LLC purchased a new position in shares of AutoZone during the fourth quarter worth $37,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Transactions at AutoZone

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

Analyst Ratings Changes

A number of research firms recently issued reports on AZO. Roth Mkm decreased their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Argus upgraded AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price objective for the company in a research note on Monday, March 9th. JPMorgan Chase & Co. boosted their price objective on AutoZone from $4,100.00 to $4,300.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Barclays upped their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets dropped their target price on AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4,312.13.

AutoZone Stock Performance

Shares of AutoZone stock opened at $3,564.08 on Wednesday. The firm has a 50-day simple moving average of $3,549.84 and a two-hundred day simple moving average of $3,634.09. The company has a market cap of $58.74 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 1.83 and a beta of 0.41. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the company posted $28.29 EPS. The company's revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts forecast that AutoZone, Inc. will post 148.93 EPS 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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