Mitsubishi UFJ Trust & Banking Corp Acquires 86 Shares of AutoZone, Inc. (NYSE:AZO)

Mitsubishi UFJ Trust & Banking Corp increased its holdings in AutoZone, Inc. (NYSE:AZO) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,086 shares of the company’s stock after acquiring an additional 86 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.13% of AutoZone worth $70,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of AZO. Franklin Resources Inc. raised its stake in AutoZone by 18.1% during the third quarter. Franklin Resources Inc. now owns 44,946 shares of the company’s stock valued at $141,717,000 after buying an additional 6,898 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after purchasing an additional 60,483 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in AutoZone by 29.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 34,808 shares of the company’s stock worth $111,455,000 after purchasing an additional 7,922 shares in the last quarter. Silverleafe Capital Partners LLC grew its position in AutoZone by 1.0% during the 4th quarter. Silverleafe Capital Partners LLC now owns 2,642 shares of the company’s stock valued at $8,460,000 after purchasing an additional 26 shares during the last quarter. Finally, Pensionfund Sabic increased its stake in AutoZone by 51.3% during the 4th quarter. Pensionfund Sabic now owns 590 shares of the company’s stock valued at $1,889,000 after purchasing an additional 200 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AZO. Roth Capital set a $3,763.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. Morgan Stanley increased their target price on AutoZone from $3,490.00 to $3,750.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. TD Cowen boosted their price target on AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Truist Financial increased their price objective on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Wedbush reissued an “outperform” rating and issued a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $3,683.36.

AutoZone Stock Up 0.5 %

AZO stock opened at $3,675.49 on Wednesday. The business’s 50-day moving average price is $3,450.75 and its 200-day moving average price is $3,267.24. The stock has a market cap of $61.68 billion, a P/E ratio of 24.56, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,728.97 and a twelve month high of $3,704.43.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Bailey L. Childress sold 160 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3,550.00, for a total value of $568,000.00. Following the transaction, the senior vice president now directly owns 50 shares of the company’s stock, valued at approximately $177,500. The trade was a 76.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP K. Michelle Borninkhof sold 136 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the sale, the senior vice president now directly owns 403 shares of the company’s stock, valued at approximately $1,430,682.24. This trade represents a 25.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,721 shares of company stock valued at $17,009,311. Company insiders own 2.10% of the company’s stock.

AutoZone 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.