Mirae Asset Global Investments Co. Ltd. Purchases 685 Shares of AutoZone, Inc. (NYSE:AZO)

Mirae Asset Global Investments Co. Ltd. increased its position in AutoZone, Inc. (NYSE:AZO) by 44.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,235 shares of the company’s stock after buying an additional 685 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AutoZone were worth $7,040,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Parcion Private Wealth LLC bought a new stake in AutoZone in the 3rd quarter worth approximately $265,000. Allworth Financial LP lifted its position in AutoZone by 5.0% in the third quarter. Allworth Financial LP now owns 84 shares of the company’s stock valued at $265,000 after purchasing an additional 4 shares during the last quarter. Tectonic Advisors LLC lifted its position in AutoZone by 3.5% in the third quarter. Tectonic Advisors LLC now owns 1,860 shares of the company’s stock valued at $5,859,000 after purchasing an additional 63 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in AutoZone by 3.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 626 shares of the company’s stock valued at $1,972,000 after purchasing an additional 18 shares during the last quarter. Finally, Great Lakes Retirement Inc. lifted its position in AutoZone by 10.1% in the third quarter. Great Lakes Retirement Inc. now owns 413 shares of the company’s stock valued at $1,301,000 after purchasing an additional 38 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AZO. Truist Financial boosted their price objective on AutoZone from $3,341.00 to $3,501.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Roth Mkm reiterated a “buy” rating and issued a $3,634.00 price objective on shares of AutoZone in a research report on Wednesday, October 16th. Evercore ISI boosted their price objective on AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. UBS Group boosted their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Citigroup reduced their target price on AutoZone from $3,787.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

AutoZone Stock Down 0.8 %

Shares of AZO stock opened at $3,105.93 on Tuesday. The stock has a market cap of $53.06 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 1.59 and a beta of 0.70. The business’s fifty day moving average is $3,131.62 and its 200 day moving average is $3,010.94. AutoZone, Inc. has a twelve month low of $2,448.80 and a twelve month high of $3,256.37.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing the consensus estimate of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $6.25 billion. During the same period last year, the firm posted $46.46 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction on 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 completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at $42,613,046.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,880 shares of company stock valued at $46,225,660. 2.50% of the stock is currently owned by corporate insiders.

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.