Mitsubishi UFJ Asset Management UK Ltd. Has $2.29 Million Stock Position in AutoZone, Inc. (NYSE:AZO)

Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 25.0% in the 1st quarter, HoldingsChannel reports. The fund owned 600 shares of the company’s stock after selling 200 shares during the period. AutoZone comprises approximately 1.2% of Mitsubishi UFJ Asset Management UK Ltd.’s holdings, making the stock its 19th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in AutoZone were worth $2,288,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of AutoZone by 3.5% during the first quarter. Blue Trust Inc. now owns 89 shares of the company’s stock worth $339,000 after buying an additional 3 shares during the period. Colonial Trust Co SC boosted its stake in AutoZone by 24.5% during the fourth quarter. Colonial Trust Co SC now owns 61 shares of the company’s stock worth $197,000 after acquiring an additional 12 shares in the last quarter. Comerica Bank boosted its stake in AutoZone by 5.4% during the fourth quarter. Comerica Bank now owns 4,262 shares of the company’s stock worth $13,647,000 after acquiring an additional 217 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in shares of AutoZone by 10.1% during the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 2,954 shares of the company’s stock valued at $11,267,000 after purchasing an additional 271 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN lifted its position in shares of AutoZone by 0.9% during the first quarter. Kirr Marbach & Co. LLC IN now owns 7,761 shares of the company’s stock valued at $29,591,000 after purchasing an additional 68 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Price Performance

NYSE:AZO opened at $4,038.42 on Thursday. The firm’s 50-day moving average price is $3,754.31 and its 200-day moving average price is $3,656.84. The company has a market capitalization of $67.76 billion, a PE ratio of 27.33, a P/E/G ratio of 2.39 and a beta of 0.38. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,094.69.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). The business had revenue of $4.46 billion during the quarter, compared to analysts’ expectations of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $36.69 earnings per share. Equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AZO shares. Oppenheimer raised shares of AutoZone from a “market perform” rating to an “outperform” rating and set a $4,600.00 price target on the stock in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Wells Fargo & Company set a $4,200.00 price objective on shares of AutoZone and gave the stock an “overweight” rating in a report on Monday, May 19th. UBS Group raised their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Morgan Stanley restated an “overweight” rating and set a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $4,087.00.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares in the company, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the transaction, the chief financial officer owned 427 shares in the company, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,862 shares of company stock worth $126,058,789. 2.10% of the stock is currently owned by company insiders.

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.