AutoZone, Inc. (NYSE:AZO) Shares Sold by Mitsubishi UFJ Asset Management UK Ltd.

Mitsubishi UFJ Asset Management UK Ltd. cut its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 33.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,000 shares of the company's stock after selling 500 shares during the quarter. AutoZone accounts for 1.6% of Mitsubishi UFJ Asset Management UK Ltd.'s investment portfolio, making the stock its 13th largest position. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in AutoZone were worth $3,150,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of AutoZone during the first quarter worth approximately $41,000. Meeder Asset Management Inc. raised its holdings in shares of AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company's stock worth $44,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of AutoZone during the 2nd quarter valued at about $50,000. ORG Partners LLC purchased a new stake in shares of AutoZone in the second quarter valued at about $50,000. Finally, UMB Bank n.a. increased its position in AutoZone by 33.3% during the second quarter. UMB Bank n.a. now owns 28 shares of the company's stock worth $83,000 after purchasing an additional 7 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AutoZone stock traded up $24.07 during midday trading on Friday, reaching $3,182.07. The company's stock had a trading volume of 113,374 shares, compared to its average volume of 140,100. The firm has a market capitalization of $54.36 billion, a PE ratio of 22.01, a P/E/G ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a fifty-two week low of $2,375.35 and a fifty-two week high of $3,256.37. The stock's 50 day simple moving average is $3,133.09 and its 200 day simple moving average is $3,007.35.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). The firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business's revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $46.46 EPS. Equities analysts predict that AutoZone, Inc. will post 157.99 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman William C. Rhodes III sold 300 shares of the firm's stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the sale, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the business's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now owns 13,857 shares of the company's stock, valued at $42,613,046.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,880 shares of company stock worth $46,225,660 in the last ninety days. Insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AZO shares. Roth Capital upgraded AutoZone to a "strong-buy" rating in a research report on Tuesday. Truist Financial lifted their target price on shares of AutoZone from $3,341.00 to $3,501.00 and gave the company a "buy" rating in a report on Monday, October 14th. StockNews.com cut AutoZone from a "buy" rating to a "hold" rating in a research note on Saturday, September 21st. Morgan Stanley increased their target price on AutoZone from $3,038.00 to $3,125.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Finally, The Goldman Sachs Group cut shares of AutoZone from a "buy" rating to a "sell" rating and reduced their price target for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $3,202.71.

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.