Vise Technologies Inc. Takes Position in AutoZone, Inc. $AZO

Vise Technologies Inc. purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 384 shares of the company’s stock, valued at approximately $1,427,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after buying an additional 14 shares during the last quarter. Signaturefd LLC lifted its stake in shares of AutoZone by 3.1% during the 1st quarter. Signaturefd LLC now owns 394 shares of the company’s stock worth $1,503,000 after acquiring an additional 12 shares during the last quarter. Sigma Planning Corp lifted its holdings in AutoZone by 25.8% during the 1st quarter. Sigma Planning Corp now owns 83 shares of the company’s stock valued at $316,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC increased its position in shares of AutoZone by 26.3% during the first quarter. Larson Financial Group LLC now owns 72 shares of the company’s stock worth $275,000 after acquiring an additional 15 shares during the period. Finally, Bridgewater Advisors Inc. purchased a new position in AutoZone during the 1st quarter worth $822,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total value of $1,132,500.00. Following the completion of the sale, the senior vice president directly owned 416 shares in the company, valued at approximately $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John Scott Murphy sold 2,860 shares of AutoZone stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 1,244 shares in the company, valued at approximately $5,194,570.80. This represents a 69.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is owned by company insiders.

AutoZone Stock Performance

NYSE AZO opened at $3,862.78 on Thursday. The firm has a market capitalization of $64.25 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a one year low of $3,036.40 and a one year high of $4,388.11. The company’s 50 day moving average price is $4,026.36 and its 200 day moving average price is $3,887.96.

AutoZone (NYSE:AZO) last released its quarterly 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 business had revenue of $6.24 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm posted $51.58 EPS. The company’s revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on AZO shares. TD Cowen raised their price target on shares of AutoZone from $4,300.00 to $4,900.00 and gave the company a “buy” rating in a report on Thursday, September 18th. JPMorgan Chase & Co. upped their price target on AutoZone from $4,200.00 to $4,850.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Roth Capital reissued a “buy” rating and set a $4,750.00 target price (down from $4,800.00) on shares of AutoZone in a research note on Thursday, September 25th. Evercore ISI raised their price objective on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Finally, Cowen restated a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $4,551.56.

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.