Fiduciary Family Office LLC Acquires Shares of 150 AutoZone, Inc. (NYSE:AZO)

Key Points

• Fiduciary Family Office LLC acquired 150 shares of AutoZone for approximately $572,000, highlighting institutional interest in the stock.
• AutoZone's recent quarterly earnings report showed $35.36 EPS, falling short of estimates of $37.07, but revenue increased by 5.4% year-over-year.
• Despite the earnings miss, analysts have a consensus rating of "Buy" for AutoZone, with an average target price of $4,087.00.

Fiduciary Family Office LLC purchased a new stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 150 shares of the company's stock, valued at approximately $572,000.

Several other hedge funds have also modified their holdings of the company. Benjamin Edwards Inc. lifted its position in shares of AutoZone by 11.3% during the first quarter. Benjamin Edwards Inc. now owns 1,467 shares of the company's stock valued at $5,593,000 after buying an additional 149 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AutoZone by 7.5% during the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares during the last quarter. Frank Rimerman Advisors LLC lifted its position in shares of AutoZone by 1.4% during the first quarter. Frank Rimerman Advisors LLC now owns 372 shares of the company's stock valued at $1,418,000 after buying an additional 5 shares during the last quarter. Donoghue Forlines LLC purchased a new stake in shares of AutoZone during the first quarter valued at about $2,421,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of AutoZone during the first quarter valued at about $111,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AutoZone

In other news, CFO Jamere Jackson sold 2,612 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the sale, the chief financial officer owned 427 shares of the company's stock, valued at approximately $1,591,877.35. The trade was a 85.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Richard Craig Smith sold 3,000 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, the vice president directly owned 2,925 shares in the company, valued at $11,337,007.50. This trade represents a 50.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,862 shares of company stock worth $126,058,789 over the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

AutoZone Stock Up 0.1%

AZO stock traded up $4.41 during trading on Monday, reaching $4,039.57. 96,363 shares of the company's stock were exchanged, compared to its average volume of 113,581. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,094.69. The company's fifty day moving average price is $3,742.89 and its 200-day moving average price is $3,651.77. The firm has a market cap of $67.78 billion, a PE ratio of 27.34, a P/E/G ratio of 2.41 and a beta of 0.38.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the prior year, the firm posted $36.69 EPS. The firm's quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

AZO has been the topic of several recent analyst reports. Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective on the stock in a report on Friday, May 2nd. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and upped their price objective for the company from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. The Goldman Sachs Group set a $3,811.00 price objective on shares of AutoZone in a report on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and set a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a report on Monday, May 19th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, AutoZone has an average rating of "Buy" and a consensus price target of $4,087.00.

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.