Vinva Investment Management Ltd Takes $787,000 Position in AutoZone, Inc. $AZO

Vinva Investment Management Ltd bought a new stake in AutoZone, Inc. (NYSE:AZO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 218 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AZO. AlphaCore Capital LLC acquired a new position in AutoZone in the first quarter valued at $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone during the first quarter worth about $27,000. Aspect Partners LLC grew its holdings in shares of AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of AutoZone during the second quarter worth about $33,000. Finally, NewSquare Capital LLC increased its position in AutoZone by 50.0% in the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Performance

NYSE:AZO opened at $3,962.85 on Friday. AutoZone, Inc. has a 1 year low of $3,162.00 and a 1 year high of $4,388.11. The stock has a fifty day moving average price of $3,941.82 and a two-hundred day moving average price of $3,901.03. The stock has a market capitalization of $65.91 billion, a price-to-earnings ratio of 27.35, a PEG ratio of 1.75 and a beta of 0.37.

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

AutoZone announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

AZO has been the subject of a number of recent research reports. Rothschild & Co Redburn increased their price objective on AutoZone from $4,300.00 to $4,700.00 and gave the stock a “buy” rating in a research report on Tuesday, October 7th. 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 for the company. BMO Capital Markets lifted their price objective on shares of AutoZone from $4,100.00 to $4,600.00 and gave the company an “outperform” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. boosted their price objective on shares of AutoZone from $4,200.00 to $4,850.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Finally, UBS Group reduced their target price on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a research note on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and an average price target of $4,547.56.

Insider Buying and Selling

In related news, CEO Philip B. Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $4,175.70, for a total value of $11,942,502.00. Following the transaction, the vice president directly owned 1,244 shares of the company’s stock, valued at $5,194,570.80. This trade represents a 69.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,693 shares of company stock worth $23,259,891 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.