Meiji Yasuda Asset Management Co Ltd. Sells 13 Shares of AutoZone, Inc. $AZO

Meiji Yasuda Asset Management Co Ltd. lowered its stake in AutoZone, Inc. (NYSE:AZO) by 3.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 380 shares of the company’s stock after selling 13 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in AutoZone were worth $1,449,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new stake in AutoZone in the first quarter valued at $27,000. Saudi Central Bank bought a new position in AutoZone in the first quarter worth about $27,000. Financial Network Wealth Advisors LLC lifted its holdings in AutoZone by 66.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 10 shares of the company’s stock worth $38,000 after buying an additional 4 shares during the period. Cornerstone Planning Group LLC purchased a new stake in AutoZone in the first quarter worth about $44,000. Finally, Clearstead Trust LLC bought a new stake in AutoZone during the 1st quarter valued at approximately $46,000. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 28th. Roth Capital set a $4,135.00 target price on AutoZone and gave the stock a “buy” rating in a report on Monday, June 2nd. Truist Financial set a $3,995.00 target price on AutoZone in a report on Friday, May 23rd. Mizuho raised their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the company an “outperform” rating in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the company an “overweight” rating in a research report on Monday, May 19th. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, AutoZone currently has a consensus rating of “Buy” and an average price target of $4,148.90.

Insider Transactions at AutoZone

In related 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 value of $2,697,847.50. Following the transaction, the senior vice president owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Richard Craig Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the transaction, the vice president owned 2,925 shares in the company, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

AutoZone Trading Up 1.1%

Shares of AutoZone stock opened at $4,290.32 on Wednesday. The firm has a market capitalization of $72.00 billion, a P/E ratio of 29.04, a P/E/G ratio of 2.24 and a beta of 0.41. The business has a fifty day simple moving average of $3,951.67 and a two-hundred day simple moving average of $3,757.21. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,291.12.

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.