Mitsubishi UFJ Asset Management Co. Ltd. Purchases 2,796 Shares of AutoZone, Inc. (NYSE:AZO)

Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of AutoZone, Inc. (NYSE:AZO) by 15.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,556 shares of the company’s stock after acquiring an additional 2,796 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.12% of AutoZone worth $64,785,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in AutoZone by 232,194.6% during the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after acquiring an additional 731,413 shares during the period. Norges Bank bought a new stake in AutoZone during the fourth quarter valued at about $678,350,000. Parnassus Investments LLC boosted its holdings in AutoZone by 32.0% during the fourth quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock valued at $629,780,000 after acquiring an additional 58,989 shares during the period. PineStone Asset Management Inc. raised its position in shares of AutoZone by 28.0% during the fourth quarter. PineStone Asset Management Inc. now owns 214,979 shares of the company’s stock valued at $555,852,000 after buying an additional 47,027 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of AutoZone by 11.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock valued at $550,296,000 after buying an additional 22,507 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

AutoZone Price Performance

AZO traded down $57.76 during mid-day trading on Thursday, hitting $2,926.35. The stock had a trading volume of 94,144 shares, compared to its average volume of 149,739. AutoZone, Inc. has a 1-year low of $2,375.35 and a 1-year high of $3,256.37. The stock’s fifty day simple moving average is $2,872.20 and its 200-day simple moving average is $2,888.58. The firm has a market capitalization of $49.98 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.50 and a beta of 0.71.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, May 21st. The company reported $36.69 EPS for the quarter, topping analysts’ consensus estimates of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the business posted $34.12 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Jenna M. Bedsole acquired 36 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now directly owns 36 shares in the company, valued at approximately $99,255.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on AZO. Morgan Stanley cut their price objective on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating for the company in a research report on Wednesday, May 22nd. Citigroup cut their price objective on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Evercore ISI cut their price objective on shares of AutoZone from $3,278.00 to $3,275.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Oppenheimer reaffirmed a “market perform” rating and set a $2,600.00 price objective on shares of AutoZone in a research report on Wednesday, June 26th. Finally, Guggenheim upped their price objective on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

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.