Mirae Asset Global Investments Co. Ltd. Buys 139 Shares of AutoZone, Inc. $AZO

Mirae Asset Global Investments Co. Ltd. raised its position in AutoZone, Inc. (NYSE:AZO) by 4.3% in the third quarter, HoldingsChannel.com reports. The fund owned 3,399 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in AutoZone were worth $14,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ballentine Partners LLC boosted its holdings in shares of AutoZone by 5.3% during the 3rd quarter. Ballentine Partners LLC now owns 657 shares of the company’s stock worth $2,817,000 after buying an additional 33 shares during the period. Valeo Financial Advisors LLC increased its stake in AutoZone by 10.7% during the 3rd quarter. Valeo Financial Advisors LLC now owns 93 shares of the company’s stock worth $400,000 after acquiring an additional 9 shares during the period. Bank of Jackson Hole Trust raised its stake in AutoZone by 122.2% in the third quarter. Bank of Jackson Hole Trust now owns 20 shares of the company’s stock valued at $86,000 after purchasing an additional 11 shares in the last quarter. Alta Advisers Ltd raised its position in shares of AutoZone by 22.7% in the 3rd quarter. Alta Advisers Ltd now owns 81 shares of the company’s stock valued at $348,000 after buying an additional 15 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in AutoZone by 4.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 613 shares of the company’s stock valued at $2,630,000 after purchasing an additional 28 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors.

Insider Activity at AutoZone

In related news, Director Earl G. Graves, Jr. sold 250 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $3,295.00, for a total transaction of $823,750.00. Following the sale, the director directly owned 4,887 shares in the company, valued at approximately $16,102,665. The trade was a 4.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael A. George bought 145 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was bought at an average price of $3,398.13 per share, with a total value of $492,728.85. Following the purchase, the director owned 566 shares in the company, valued at $1,923,341.58. This trade represents a 34.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 347 shares of company stock worth $1,179,256 and sold 9,447 shares worth $34,179,923. 2.60% of the stock is owned by corporate insiders.

AutoZone Stock Down 0.0%

AZO opened at $3,703.04 on Friday. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company’s 50-day moving average price is $3,576.54 and its two-hundred day moving average price is $3,848.37. The stock has a market cap of $61.35 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.76 and a beta of 0.42.

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

AutoZone announced that its board has authorized a share buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AZO. BNP Paribas Exane lowered their price objective on shares of AutoZone from $4,811.00 to $4,268.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Gabelli reissued a “buy” rating on shares of AutoZone in a research note on Thursday, November 6th. Guggenheim decreased their price target on AutoZone from $4,600.00 to $4,400.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Rothschild & Co Redburn raised their price objective on shares of AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. Finally, BMO Capital Markets reduced their target price on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research note on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,285.00.

About AutoZone

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.