AutoZone, Inc. $AZO Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in AutoZone, Inc. (NYSE:AZO) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,399 shares of the company’s stock after buying an additional 139 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AutoZone were worth $14,583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AZO. Aspect Partners LLC grew its stake in AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Global Trust Asset Management LLC raised its position in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock valued at $30,000 after purchasing an additional 6 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of AutoZone during the 2nd quarter valued at approximately $33,000. NewSquare Capital LLC grew its position in shares of AutoZone by 50.0% during the second quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock worth $33,000 after buying an additional 3 shares in the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in AutoZone in the second quarter valued at $33,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Down 0.0%

Shares of NYSE AZO opened at $3,703.04 on Friday. The company has a market cap of $61.35 billion, a P/E ratio of 25.82, a P/E/G ratio of 1.76 and a beta of 0.42. AutoZone, Inc. has a 12 month low of $3,210.72 and a 12 month high of $4,388.11. The business’s 50 day moving average is $3,576.54 and its two-hundred day moving average is $3,848.37.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share for the quarter, missing the consensus estimate of $32.69 by ($1.65). The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. AutoZone had a negative return on equity of 65.38% and a net margin of 12.78%.AutoZone’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $32.52 EPS. Sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a share buyback program on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

AZO has been the topic of several research reports. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research note on Monday, December 29th. Raymond James Financial cut their price objective on shares of AutoZone from $4,800.00 to $4,600.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, December 10th. Roth Mkm restated a “buy” rating and set a $4,650.00 price target (down from $4,750.00) on shares of AutoZone in a research report on Wednesday, December 10th. Oppenheimer lowered their price objective on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. Finally, BMO Capital Markets dropped their price target on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

Insider Activity

In related news, Director Michael A. George purchased 145 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the completion of the acquisition, the director directly owned 566 shares in the company, valued at approximately $1,923,341.58. This trade represents a 34.44% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Richard Craig Smith sold 5,910 shares of AutoZone stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares of the company’s stock, valued at approximately $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 347 shares of company stock worth $1,179,256 and have sold 9,447 shares worth $34,179,923. Insiders own 2.60% of the company’s stock.

AutoZone Company Profile

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.