Tokio Marine Asset Management Co. Ltd. Grows Stock Position in AutoZone, Inc. (NYSE:AZO)

Tokio Marine Asset Management Co. Ltd. raised its holdings in AutoZone, Inc. (NYSE:AZO) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 419 shares of the company’s stock after purchasing an additional 22 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in AutoZone were worth $1,083,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Private Trust Co. NA raised its position in shares of AutoZone by 2.9% during the 3rd quarter. Private Trust Co. NA now owns 142 shares of the company’s stock valued at $361,000 after acquiring an additional 4 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of AutoZone by 2.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock valued at $513,000 after purchasing an additional 4 shares during the period. Plancorp LLC lifted its stake in AutoZone by 3.0% in the 3rd quarter. Plancorp LLC now owns 136 shares of the company’s stock worth $345,000 after acquiring an additional 4 shares in the last quarter. Alcosta Capital Management Inc. lifted its stake in AutoZone by 0.3% in the 3rd quarter. Alcosta Capital Management Inc. now owns 1,255 shares of the company’s stock worth $3,188,000 after acquiring an additional 4 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its stake in AutoZone by 1.1% in the 3rd quarter. Hohimer Wealth Management LLC now owns 361 shares of the company’s stock worth $917,000 after acquiring an additional 4 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

AutoZone Trading Up 0.1 %

NYSE AZO traded up $2.94 during trading hours on Friday, hitting $2,948.19. 16,129 shares of the company’s stock were exchanged, compared to its average volume of 153,534. The stock has a 50-day simple moving average of $3,024.63 and a 200 day simple moving average of $2,769.99. AutoZone, Inc. has a 1-year low of $2,277.88 and a 1-year high of $3,256.37. The firm has a market cap of $51.06 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.48 and a beta of 0.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. AutoZone had a negative return on equity of 56.06% and a net margin of 14.70%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the company earned $24.64 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts anticipate that AutoZone, Inc. will post 152.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AZO. Truist Financial raised their price objective on AutoZone from $3,363.00 to $3,523.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. DA Davidson lifted their price objective on AutoZone from $2,770.00 to $3,025.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Wedbush lifted their price objective on AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 28th. Mizuho began coverage on AutoZone in a research report on Tuesday, March 19th. They set a “buy” rating and a $3,450.00 target price for the company. Finally, Evercore ISI cut their target price on AutoZone from $3,400.00 to $3,346.00 and set an “outperform” rating for the company in a research report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $3,086.61.

Insiders Place Their Bets

In other news, Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the transaction, the chairman now directly owns 15,357 shares in the company, valued at $48,992,208.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Chairman William C. Rhodes III sold 6,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric S. Gould sold 2,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $3,200.00, for a total transaction of $6,720,000.00. Following the transaction, the vice president now owns 910 shares in the company, valued at $2,912,000. The disclosure for this sale can be found here. Insiders sold 15,990 shares of company stock valued at $50,335,193 over the last ninety days. 2.50% of the stock is currently owned by insiders.

AutoZone 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.