AutoZone, Inc. $AZO Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in AutoZone, Inc. (NYSE:AZO) during the third quarter, HoldingsChannel.com reports. The fund acquired 4,625 shares of the company’s stock, valued at approximately $13,089,000.

Several other institutional investors have also added to or reduced their stakes in AZO. Vision Retirement LLC increased its position in shares of AutoZone by 0.5% during the first quarter. Vision Retirement LLC now owns 602 shares of the company’s stock worth $2,033,000 after buying an additional 3 shares during the period. State of Wyoming lifted its holdings in AutoZone by 13.6% in the first quarter. State of Wyoming now owns 25 shares of the company’s stock valued at $84,000 after buying an additional 3 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in AutoZone by 7.7% in the third quarter. Rosenberg Matthew Hamilton now owns 56 shares of the company’s stock valued at $158,000 after buying an additional 4 shares during the period. Pinnacle Associates Ltd. lifted its holdings in AutoZone by 5.0% in the third quarter. Pinnacle Associates Ltd. now owns 84 shares of the company’s stock valued at $239,000 after buying an additional 4 shares during the period. Finally, Aprio Wealth Management LLC boosted its position in AutoZone by 5.8% during the third quarter. Aprio Wealth Management LLC now owns 73 shares of the company’s stock valued at $207,000 after acquiring an additional 4 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at AutoZone

In other news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president directly owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% 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. Company insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on AZO shares. Citigroup decreased their price target on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating for the company in a report on Monday, September 14th. Guggenheim dropped their price objective on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Robert W. Baird cut their target price on AutoZone from $3,600.00 to $3,400.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 23rd. Morgan Stanley lowered AutoZone from an “overweight” rating to a “market perform” rating in a research report on Tuesday, September 29th. Finally, Bank of America started coverage on AutoZone in a research note on Monday, October 26th. They set a “buy” rating and a $3,800.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,674.36.

AutoZone Trading Down 1.6%

NYSE AZO opened at $3,199.47 on Wednesday. The company has a fifty day simple moving average of $2,974.50 and a 200 day simple moving average of $3,258.65. AutoZone, Inc. has a 12-month low of $2,730.65 and a 12-month high of $3,996.25. The company has a market cap of $51.48 billion, a P/E ratio of 20.94, a PEG ratio of 1.68 and a beta of 0.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the business posted $48.71 EPS. AutoZone’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts predict that AutoZone, Inc. will post 170.30 EPS for the current year.

About AutoZone

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.