Asset Management One Co. Ltd. Has $25.50 Million Stock Holdings in AutoZone, Inc. $AZO

Asset Management One Co. Ltd. increased its position in AutoZone, Inc. (NYSE:AZO) by 0.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,868 shares of the company’s stock after purchasing an additional 4 shares during the quarter. Asset Management One Co. Ltd.’s holdings in AutoZone were worth $25,496,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of AutoZone by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock valued at $6,709,967,000 after buying an additional 13,643 shares during the period. JPMorgan Chase & Co. grew its stake in shares of AutoZone by 7.5% in the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock valued at $3,570,296,000 after buying an additional 65,368 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in AutoZone by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock worth $1,331,870,000 after purchasing an additional 24,701 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in AutoZone by 3.9% during the 2nd quarter. PineStone Asset Management Inc. now owns 281,693 shares of the company’s stock worth $1,045,709,000 after purchasing an additional 10,456 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in AutoZone by 7,358.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 243,231 shares of the company’s stock worth $902,929,000 after purchasing an additional 239,970 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AutoZone

In related news, VP John Scott Murphy sold 2,860 shares of the company’s stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the transaction, the chief executive officer owned 55 shares in the company, valued at approximately $221,148.40. The trade was a 97.87% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Down 1.3%

AZO stock opened at $3,801.30 on Friday. The firm has a market cap of $63.79 billion, a PE ratio of 26.24, a P/E/G ratio of 1.79 and a beta of 0.40. The business has a 50 day moving average of $4,141.67 and a 200-day moving average of $3,876.96. AutoZone, Inc. has a 12-month low of $2,980.10 and a 12-month high of $4,388.11.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The business had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the company earned $51.58 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has approved a stock repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on AZO shares. DA Davidson reissued a “buy” rating and set a $4,850.00 price objective on shares of AutoZone in a report on Wednesday, September 24th. Wells Fargo & Company decreased their price objective on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price objective on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Guggenheim boosted their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, TD Cowen boosted their price objective on AutoZone from $4,300.00 to $4,900.00 and gave the stock a “buy” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4,544.68.

About AutoZone

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.