Resona Asset Management Co. Ltd. Has $26.75 Million Stock Holdings in AutoZone, Inc. $AZO

Resona Asset Management Co. Ltd. lifted its stake in shares of AutoZone, Inc. (NYSE:AZO) by 2.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,231 shares of the company’s stock after acquiring an additional 179 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in AutoZone were worth $26,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new position in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank bought a new stake in shares of AutoZone in the 1st quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of AutoZone during the second quarter worth $33,000. NewSquare Capital LLC raised its stake in 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 during the last quarter. Finally, 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 valued at $38,000 after buying an additional 4 shares during the period. 92.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group decreased their price target on AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Raymond James Financial cut their target price on AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their target price on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Barclays boosted their price target on AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Finally, Wolfe Research initiated coverage on AutoZone in a report on Thursday, September 18th. They set an “outperform” rating and a $4,741.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $4,544.68.

AutoZone Stock Performance

AZO stock opened at $3,672.81 on Friday. The stock’s 50 day simple moving average is $4,062.06 and its 200 day simple moving average is $3,882.62. The company has a market cap of $61.09 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a fifty-two week low of $3,036.40 and a fifty-two week high of $4,388.11.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. The company’s revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $51.58 EPS. Equities analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current year.

AutoZone declared that its board has initiated a share repurchase plan on Wednesday, October 8th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at AutoZone

In other AutoZone news, VP John Scott Murphy sold 2,860 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $4,175.70, for a total transaction of $11,942,502.00. Following the completion of the sale, the vice president owned 1,244 shares in the company, valued at approximately $5,194,570.80. The trade was a 69.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the transaction, the senior vice president owned 416 shares in the company, valued at approximately $1,570,400. The trade was a 41.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 5,693 shares of company stock valued at $23,259,891. 2.60% of the stock is owned by company insiders.

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.