Vise Technologies Inc. Makes New Investment in AutoZone, Inc. $AZO

Key Points

• Vise Technologies opened a new AutoZone position in the third quarter, acquiring 1,124 shares valued at about $3.18 million. Institutional investors and hedge funds own 92.74% of the stock.
• AutoZone reported quarterly revenue of $6.59 billion, up 5.6% year over year but below analysts’ $6.70 billion estimate.
• Analysts maintain a Moderate Buy consensus, with an average price target of $3,674.36; several firms recently cut their targets, while retaining ratings ranging from Buy to Neutral.

Vise Technologies Inc. acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,124 shares of the company's stock, valued at approximately $3,180,000.

A number of other hedge funds have also modified their holdings of the stock. Grandfield & Dodd LLC increased its stake in AutoZone by 4.6% in the 3rd quarter. Grandfield & Dodd LLC now owns 5,222 shares of the company's stock worth $14,778,000 after purchasing an additional 229 shares in the last quarter. Aprio Wealth Management LLC raised its holdings in AutoZone by 5.8% during the 3rd quarter. Aprio Wealth Management LLC now owns 73 shares of the company's stock worth $207,000 after buying an additional 4 shares during the period. International Assets Investment Management LLC lifted its stake in AutoZone by 20,034.2% during the third quarter. International Assets Investment Management LLC now owns 90,000 shares of the company's stock valued at $254,702,000 after buying an additional 89,553 shares in the last quarter. D.A. Davidson & CO. lifted its stake in AutoZone by 6.9% during the third quarter. D.A. Davidson & CO. now owns 2,448 shares of the company's stock valued at $6,928,000 after buying an additional 159 shares in the last quarter. Finally, BOKF NA boosted its holdings in shares of AutoZone by 3.5% in the third quarter. BOKF NA now owns 535 shares of the company's stock worth $1,514,000 after buying an additional 18 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

AutoZone Stock Up 4.0%

AZO stock opened at $3,327.64 on Thursday. AutoZone, Inc. has a 12-month low of $2,730.65 and a 12-month high of $3,996.25. The company 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. The company has a 50 day moving average of $2,980.58 and a two-hundred day moving average of $3,257.98.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $55.51. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. During the same quarter in the previous year, the company posted $48.71 earnings per share. The business's quarterly revenue was up 5.6% compared to the same quarter last year. On average, research analysts anticipate that AutoZone, Inc. will post 170.30 EPS for the current year.

Analyst Ratings Changes

AZO has been the topic of several analyst reports. Mizuho dropped their target price on shares of AutoZone from $3,200.00 to $3,000.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 23rd. Robert W. Baird decreased their price objective on shares of AutoZone from $3,600.00 to $3,400.00 and set a "neutral" rating for the company in a research note on Wednesday, September 23rd. Piper Sandler set a $3,500.00 price objective on shares of AutoZone in a research note on Monday, August 31st. Citigroup lowered their price target on AutoZone from $3,700.00 to $3,450.00 and set a "buy" rating on the stock in a report on Monday, September 14th. Finally, UBS Group set a $3,850.00 price objective on AutoZone in a research note on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $3,674.36.

Insider Activity at AutoZone

In related news, VP Dennis LeRiche sold 1,455 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total value of $4,510,500.00. Following the transaction, the vice president owned 441 shares in the company, valued at approximately $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.60% of the company's stock.

About AutoZone

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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