Mitsubishi UFJ Trust & Banking Corp Lowers Holdings in AutoZone, Inc. (NYSE:AZO)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of AutoZone, Inc. (NYSE:AZO) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,555 shares of the company’s stock after selling 1,236 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in AutoZone were worth $61,632,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AZO. Rise Advisors LLC acquired a new stake in AutoZone in the first quarter valued at about $32,000. Riverview Trust Co acquired a new stake in shares of AutoZone in the 1st quarter valued at approximately $41,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at approximately $54,000. Private Wealth Management Group LLC acquired a new position in AutoZone during the fourth quarter worth $54,000. Finally, Quarry LP purchased a new position in AutoZone in the fourth quarter worth $70,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Price Performance

NYSE:AZO traded up $24.05 during trading hours on Friday, reaching $2,950.40. 90,442 shares of the company were exchanged, compared to its average volume of 114,871. The firm has a market cap of $50.39 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.48 and a beta of 0.71. The stock has a 50 day simple moving average of $2,870.59 and a 200 day simple moving average of $2,893.69. AutoZone, Inc. has a 52-week low of $2,375.35 and a 52-week high of $3,256.37.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share for the quarter, beating analysts’ consensus estimates of $35.67 by $1.02. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.29 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $34.12 earnings per share. On average, analysts predict that AutoZone, Inc. will post 151.57 EPS for the current fiscal year.

Insider Transactions at AutoZone

In other AutoZone news, VP Jenna M. Bedsole purchased 36 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the acquisition, the vice president now owns 36 shares of the company’s stock, valued at approximately $99,255.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

AZO has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research report on Wednesday, July 10th. Barclays lowered their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Mizuho reduced their price target on shares of AutoZone from $3,450.00 to $3,280.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. UBS Group lowered their price target on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Truist Financial dropped their price objective on AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,112.71.

AutoZone 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.