Mitsubishi UFJ Asset Management UK Ltd. Sells 500 Shares of AutoZone, Inc. (NYSE:AZO)

Mitsubishi UFJ Asset Management UK Ltd. lessened its position in AutoZone, Inc. (NYSE:AZO) by 33.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,000 shares of the company’s stock after selling 500 shares during the period. AutoZone accounts for 1.6% of Mitsubishi UFJ Asset Management UK Ltd.’s investment portfolio, making the stock its 13th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in AutoZone were worth $3,150,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Raymond James & Associates increased its stake in shares of AutoZone by 0.4% during the third quarter. Raymond James & Associates now owns 40,374 shares of the company’s stock valued at $127,180,000 after buying an additional 157 shares during the period. Blue Trust Inc. boosted its holdings in AutoZone by 127.0% in the third quarter. Blue Trust Inc. now owns 84 shares of the company’s stock valued at $249,000 after acquiring an additional 47 shares in the last quarter. Mogy Joel R Investment Counsel Inc. increased its position in AutoZone by 35.8% during the 3rd quarter. Mogy Joel R Investment Counsel Inc. now owns 4,930 shares of the company’s stock valued at $15,530,000 after purchasing an additional 1,299 shares during the period. Net Worth Advisory Group bought a new position in AutoZone in the 3rd quarter worth $776,000. Finally, Aaron Wealth Advisors LLC lifted its position in shares of AutoZone by 34.1% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 122 shares of the company’s stock worth $384,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Insiders Place Their Bets

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,880 shares of company stock worth $46,225,660 in the last 90 days. 2.50% of the stock is currently owned by corporate insiders.

AutoZone Stock Performance

Shares of AutoZone stock traded up $24.07 during trading hours on Friday, hitting $3,182.07. The company’s stock had a trading volume of 113,374 shares, compared to its average volume of 140,100. The company has a market cap of $54.36 billion, a PE ratio of 22.01, a PEG ratio of 1.59 and a beta of 0.70. The business has a 50 day moving average price of $3,133.09 and a two-hundred day moving average price of $3,008.48. AutoZone, Inc. has a 12-month low of $2,375.35 and a 12-month high of $3,256.37.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter in the previous year, the company earned $46.46 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. As a group, research analysts anticipate that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AZO shares. Guggenheim increased their target price on AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Truist Financial raised their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Mizuho upped their target price on shares of AutoZone from $3,280.00 to $3,350.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Oppenheimer reissued a “market perform” rating and set a $2,600.00 price target on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Wedbush restated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $3,202.71.

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.