AutoZone, Inc. $AZO Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp increased its position in shares of AutoZone, Inc. (NYSE:AZO) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,951 shares of the company’s stock after purchasing an additional 3,773 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in AutoZone were worth $96,336,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its holdings in shares of AutoZone by 1.2% during the 1st quarter. Venturi Wealth Management LLC now owns 246 shares of the company’s stock worth $938,000 after buying an additional 3 shares during the last quarter. One Wealth Advisors LLC lifted its holdings in AutoZone by 3.6% in the first quarter. One Wealth Advisors LLC now owns 87 shares of the company’s stock valued at $332,000 after acquiring an additional 3 shares during the last quarter. Advisor OS LLC grew its position in AutoZone by 2.5% in the first quarter. Advisor OS LLC now owns 121 shares of the company’s stock worth $461,000 after acquiring an additional 3 shares during the period. Flputnam Investment Management Co. increased its stake in AutoZone by 3.2% during the first quarter. Flputnam Investment Management Co. now owns 96 shares of the company’s stock worth $366,000 after acquiring an additional 3 shares during the last quarter. Finally, McLean Asset Management Corp increased its stake in AutoZone by 3.6% during the second quarter. McLean Asset Management Corp now owns 87 shares of the company’s stock worth $320,000 after acquiring an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AZO opened at $3,751.72 on Wednesday. The company’s 50-day simple moving average is $4,034.20 and its 200-day simple moving average is $3,888.64. AutoZone, Inc. has a 1 year low of $3,036.40 and a 1 year high of $4,388.11. The stock has a market capitalization of $62.40 billion, a PE ratio of 25.90, a P/E/G ratio of 1.75 and a beta of 0.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $51.58 EPS. On average, sell-side analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone announced that its board has authorized a share buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at AutoZone

In other news, SVP K. Michelle Borninkhof sold 300 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the completion of the transaction, the vice president owned 1,244 shares of the company’s stock, valued at approximately $5,194,570.80. This trade represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 5,693 shares of company stock valued at $23,259,891. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Roth Capital reiterated a “buy” rating and set a $4,750.00 price target (down from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. Gabelli reaffirmed a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. Barclays lifted their price target on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Cowen restated a “buy” rating on shares of AutoZone in a report on Thursday, September 18th. Finally, The Goldman Sachs Group lifted their target price on shares of AutoZone from $3,894.00 to $4,090.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4,544.68.

AutoZone Company 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.