Vise Technologies Inc. acquired a new stake in shares of AutoZone, Inc. (NYSE:AZO – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,124 shares of the company’s stock, valued at approximately $3,180,000.
Several other hedge funds have also made changes to their positions in AZO. Edmond DE Rothschild Holding S.A. bought a new position in AutoZone in the second quarter worth $29,000. Burkett Financial Services LLC acquired a new stake in AutoZone during the third quarter worth $31,000. Tacita Capital Inc bought a new stake in AutoZone in the 2nd quarter valued at $32,000. Asset Dedication LLC increased its holdings in AutoZone by 150.0% in the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after buying an additional 6 shares during the period. Finally, GK Wealth Management LLC acquired a new position in shares of AutoZone in the 3rd quarter valued at $34,000. Institutional investors own 92.74% of the company’s stock.
Insider Activity
In related news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the sale, the vice president owned 441 shares of the company’s stock, valued at approximately $1,367,100. This trade represents a 76.74% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Raymond James Financial reduced their price objective on shares of AutoZone from $4,000.00 to $3,700.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 23rd. Evercore reissued an “outperform” rating on shares of AutoZone in a research report on Wednesday, September 23rd. BMO Capital Markets cut their price target on shares of AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating for the company in a research note on Wednesday, September 23rd. The Goldman Sachs Group decreased their price objective on AutoZone from $4,096.00 to $3,917.00 and set a “buy” rating on the stock in a report on Wednesday, September 23rd. Finally, Sanford C. Bernstein began coverage on AutoZone in a research note on Tuesday, September 29th. They issued an “outperform” rating and a $3,698.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,674.36.
Read Our Latest Research Report on AutoZone
AutoZone Stock Up 4.0%
Shares of AZO stock opened at $3,327.64 on Thursday. The firm has a market cap of $53.54 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 1.65 and a beta of 0.37. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25. The stock has a 50-day moving average price of $2,980.58 and a 200 day moving average price of $3,257.98.
AutoZone (NYSE:AZO – Get Free Report) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $55.51. The firm had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $48.71 EPS. Sell-side analysts predict that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.
AutoZone Company Profile
AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.
Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.
Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.
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