Vinva Investment Management Ltd Reduces Position in AutoZone, Inc. (NYSE:AZO)

Vinva Investment Management Ltd lessened its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 12.0% in the 3rd quarter, Holdings Channel reports. The fund owned 309 shares of the company’s stock after selling 42 shares during the quarter. Vinva Investment Management Ltd’s holdings in AutoZone were worth $988,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AZO. Cetera Investment Advisers grew its stake in AutoZone by 311.3% during the 1st quarter. Cetera Investment Advisers now owns 5,803 shares of the company’s stock valued at $18,289,000 after acquiring an additional 4,392 shares in the last quarter. Cetera Advisors LLC grew its stake in AutoZone by 9.8% during the 1st quarter. Cetera Advisors LLC now owns 2,201 shares of the company’s stock valued at $6,937,000 after acquiring an additional 196 shares in the last quarter. Transcend Capital Advisors LLC purchased a new stake in shares of AutoZone in the 2nd quarter valued at approximately $373,000. GAMMA Investing LLC grew its stake in shares of AutoZone by 18.4% in the 2nd quarter. GAMMA Investing LLC now owns 122 shares of the company’s stock valued at $362,000 after buying an additional 19 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of AutoZone by 20.0% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 42 shares of the company’s stock valued at $124,000 after buying an additional 7 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Stock Down 0.4 %

AutoZone stock opened at $3,176.81 on Friday. The firm has a market cap of $53.69 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 1.61 and a beta of 0.71. AutoZone, Inc. has a 52-week low of $2,510.00 and a 52-week high of $3,256.37. The company’s 50 day moving average is $3,121.25 and its two-hundred day moving average is $3,035.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the company earned $46.46 earnings per share. AutoZone’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts anticipate that AutoZone, Inc. will post 158.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. BNP Paribas raised shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Mizuho increased their price target on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Guggenheim increased their price target on shares of AutoZone from $3,225.00 to $3,350.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. DA Davidson reissued a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a research note on Monday, September 30th. Finally, The Goldman Sachs Group cut shares of AutoZone from a “buy” rating to a “sell” rating and dropped their price target for the company from $3,205.00 to $2,917.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Activity

In other news, Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $3,075.20, for a total value of $922,560.00. Following the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Scott Murphy sold 1,580 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by corporate insiders.

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.