Mitsubishi UFJ Asset Management Co. Ltd. Purchases 50,071 Shares of AutoZone, Inc. $AZO

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in AutoZone, Inc. (NYSE:AZO) by 39.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,986 shares of the company’s stock after purchasing an additional 50,071 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in AutoZone were worth $584,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of AZO. Brighton Jones LLC boosted its position in shares of AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of AutoZone during the second quarter worth $356,000. Guggenheim Capital LLC raised its stake in AutoZone by 3.8% during the second quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock valued at $921,000 after purchasing an additional 9 shares in the last quarter. NewEdge Advisors LLC raised its stake in AutoZone by 8.9% during the second quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock valued at $5,110,000 after purchasing an additional 112 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in AutoZone by 52.3% during the second quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock valued at $43,667,000 after purchasing an additional 4,039 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup upped their price target on shares of AutoZone from $4,200.00 to $4,300.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. The Goldman Sachs Group raised their price target on AutoZone from $4,274.00 to $4,345.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Oppenheimer reaffirmed an “outperform” rating and set a $4,300.00 price objective (up from $4,150.00) on shares of AutoZone in a research note on Tuesday, March 10th. Evercore boosted their price objective on shares of AutoZone from $4,100.00 to $4,125.00 and gave the company an “outperform” rating in a research report on Friday, February 27th. Finally, Roth Mkm reduced their target price on shares of AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,312.13.

Insider Buying and Selling at AutoZone

In other AutoZone news, Director Earl G. Graves, Jr. sold 50 shares of AutoZone stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

AZO opened at $3,539.07 on Wednesday. AutoZone, Inc. has a one year low of $3,210.72 and a one year high of $4,388.11. The stock has a market cap of $58.32 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 1.78 and a beta of 0.43. The stock’s 50 day moving average price is $3,540.48 and its 200-day moving average price is $3,624.16.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $27.63 EPS for the quarter, beating the consensus estimate of $27.59 by $0.04. The firm had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $28.29 EPS. As a group, analysts predict that AutoZone, Inc. will post 148.93 earnings per share for the current fiscal year.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do?it?yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.