Vinva Investment Management Ltd Purchases Shares of 218 AutoZone, Inc. $AZO

Vinva Investment Management Ltd purchased a new position in shares of AutoZone, Inc. (NYSE:AZO) during the second quarter, HoldingsChannel reports. The institutional investor purchased 218 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors have also recently added to or reduced their stakes in AZO. Brighton Jones LLC grew its holdings in AutoZone by 14.4% in the 4th 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 period. NorthRock Partners LLC grew its holdings in AutoZone by 8.2% in the first quarter. NorthRock Partners LLC now owns 105 shares of the company’s stock valued at $400,000 after purchasing an additional 8 shares during the period. Lyell Wealth Management LP purchased a new stake in AutoZone in the first quarter valued at approximately $229,000. US Bancorp DE increased its position in AutoZone by 1.1% during the first quarter. US Bancorp DE now owns 3,062 shares of the company’s stock worth $11,675,000 after purchasing an additional 33 shares during the last quarter. Finally, Jefferies Financial Group Inc. raised its stake in AutoZone by 843.6% during the first quarter. Jefferies Financial Group Inc. now owns 4,463 shares of the company’s stock worth $17,016,000 after purchasing an additional 3,990 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Performance

AZO stock opened at $3,962.85 on Friday. The firm has a market cap of $65.91 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. AutoZone, Inc. has a 1 year low of $3,162.00 and a 1 year high of $4,388.11. The stock has a 50-day simple moving average of $3,941.82 and a 200-day simple moving average of $3,901.03.

AutoZone (NYSE:AZO) last released its quarterly earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the company earned $51.58 EPS. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 8th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other AutoZone news, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were 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 represents a 97.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president owned 416 shares of the company’s stock, valued at $1,570,400. This represents a 41.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,693 shares of company stock worth $23,259,891. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AZO shares. UBS Group lowered their price objective 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. Cowen restated a “buy” rating on shares of AutoZone in a research note on Thursday, September 18th. BMO Capital Markets raised their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. DA Davidson set a $4,850.00 target price on AutoZone in a report on Thursday, November 6th. Finally, Gabelli restated a “buy” rating on shares of AutoZone in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4,547.56.

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.