MUFG Securities EMEA plc Buys 362 Shares of AutoZone, Inc. $AZO

Key Points

• MUFG Securities EMEA plc more than doubled its AutoZone stake in the fourth quarter, buying 362 additional shares to bring its total to 682 shares worth about $2.31 million.
• AutoZone reported better-than-expected quarterly earnings of $38.07 per share, topping estimates, while revenue rose 8.4% year over year to $4.84 billion.
• Analyst sentiment remains constructive, with 20 Buy ratings and an average “Moderate Buy” rating; the consensus price target is $4,040.87.

MUFG Securities EMEA plc increased its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 113.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 682 shares of the company's stock after buying an additional 362 shares during the period. MUFG Securities EMEA plc's holdings in AutoZone were worth $2,313,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Camden National Bank boosted its holdings in AutoZone by 3.6% in the 3rd quarter. Camden National Bank now owns 86 shares of the company's stock valued at $369,000 after purchasing an additional 3 shares during the period. Crestwood Advisors Group LLC boosted its holdings in AutoZone by 1.7% in the 3rd quarter. Crestwood Advisors Group LLC now owns 184 shares of the company's stock valued at $791,000 after purchasing an additional 3 shares during the period. Assetmark Inc. boosted its holdings in AutoZone by 1.4% in the 3rd quarter. Assetmark Inc. now owns 212 shares of the company's stock valued at $908,000 after purchasing an additional 3 shares during the period. Bridgewater Advisors Inc. boosted its holdings in AutoZone by 1.3% in the 3rd quarter. Bridgewater Advisors Inc. now owns 229 shares of the company's stock valued at $982,000 after purchasing an additional 3 shares during the period. Finally, Compass Capital Corp MA ADV boosted its holdings in AutoZone by 3.7% in the 3rd quarter. Compass Capital Corp MA ADV now owns 85 shares of the company's stock valued at $365,000 after purchasing an additional 3 shares during the period. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling

In other AutoZone news, Director Brian Hannasch bought 165 shares of AutoZone stock in a transaction on Friday, May 29th. The shares were purchased at an average cost of $2,987.00 per share, with a total value of $492,855.00. Following the acquisition, the director directly owned 1,219 shares of the company's stock, valued at $3,641,153. The trade was a 15.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Earl G. Graves, Jr. sold 50 shares of the business's 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 sale, the director directly owned 4,837 shares in the company, valued at $16,826,568.64. The trade was a 1.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.60% of the company's stock.

AutoZone Trading Up 2.9%

Shares of AutoZone stock opened at $3,020.43 on Tuesday. The firm has a market capitalization of $49.78 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.35. The firm's 50 day moving average is $3,415.35 and its 200 day moving average is $3,559.42. AutoZone, Inc. has a 1 year low of $2,928.11 and a 1 year high of $4,388.11.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $36.22 by $1.85. AutoZone had a net margin of 12.40% and a negative return on equity of 77.83%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the firm posted $35.36 EPS. The firm's revenue was up 8.4% on a year-over-year basis. As a group, research analysts anticipate that AutoZone, Inc. will post 150.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Argus raised shares of AutoZone from a "hold" rating to a "buy" rating and set a $4,325.00 price objective for the company in a report on Monday, March 9th. Guggenheim cut their price objective on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating for the company in a report on Wednesday, May 27th. Truist Financial set a $3,700.00 price objective on shares of AutoZone in a report on Wednesday, May 27th. Weiss Ratings raised shares of AutoZone from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 27th. Finally, UBS Group set a $4,800.00 price objective on shares of AutoZone in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, AutoZone presently has an average rating of "Moderate Buy" and a consensus price target of $4,040.87.

AutoZone Company Profile

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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