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

Mitsubishi UFJ Asset Management UK Ltd. reduced its holdings in AutoZone, Inc. (NYSE:AZO) by 20.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 800 shares of the company’s stock after selling 200 shares during the quarter. AutoZone makes up 1.1% of Mitsubishi UFJ Asset Management UK Ltd.’s portfolio, making the stock its 25th biggest position. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in AutoZone were worth $2,562,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AZO. International Assets Investment Management LLC lifted its position in shares of AutoZone by 354,692.5% in the 3rd quarter. International Assets Investment Management LLC now owns 993,419 shares of the company’s stock worth $31,293,100,000 after buying an additional 993,139 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of AutoZone by 186.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 92,870 shares of the company’s stock worth $292,544,000 after buying an additional 60,483 shares during the last quarter. Canoe Financial LP lifted its position in shares of AutoZone by 542.8% in the 4th quarter. Canoe Financial LP now owns 62,471 shares of the company’s stock worth $200,032,000 after buying an additional 52,753 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of AutoZone by 319.0% in the 2nd quarter. Squarepoint Ops LLC now owns 36,225 shares of the company’s stock worth $107,375,000 after buying an additional 27,580 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC bought a new position in shares of AutoZone in the 3rd quarter worth about $85,127,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AZO shares. Wells Fargo & Company increased their price objective on shares of AutoZone from $3,450.00 to $3,750.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. UBS Group increased their price objective on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Truist Financial increased their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Citigroup increased their price objective on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Mizuho increased their price objective on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $3,429.84.

AutoZone Price Performance

Shares of AZO opened at $3,299.95 on Wednesday. The firm’s 50 day moving average is $3,223.86 and its 200-day moving average is $3,139.31. The stock has a market capitalization of $55.38 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.78 and a beta of 0.71. AutoZone, Inc. has a 12-month low of $2,672.31 and a 12-month high of $3,416.71.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 10th. The company reported $32.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $32.55 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that AutoZone, Inc. will post 153.09 EPS for the current fiscal year.

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.