Fortem Financial Group LLC Boosts Holdings in AutoZone, Inc. (NYSE:AZO)

Fortem Financial Group LLC increased its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 22.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 462 shares of the company's stock after buying an additional 85 shares during the period. Fortem Financial Group LLC's holdings in AutoZone were worth $1,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Brighton Jones LLC grew its position in AutoZone by 14.4% in the fourth quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after acquiring an additional 14 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in shares of AutoZone by 50.6% during the 4th quarter. Proficio Capital Partners LLC now owns 131 shares of the company's stock valued at $419,000 after buying an additional 44 shares during the last quarter. Independent Advisor Alliance boosted its holdings in AutoZone by 17.7% in the fourth quarter. Independent Advisor Alliance now owns 319 shares of the company's stock worth $1,021,000 after purchasing an additional 48 shares during the period. Moors & Cabot Inc. boosted its holdings in AutoZone by 38.4% in the fourth quarter. Moors & Cabot Inc. now owns 137 shares of the company's stock worth $439,000 after purchasing an additional 38 shares during the period. Finally, Essential Planning LLC. acquired a new position in AutoZone in the fourth quarter worth $206,000. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AutoZone

In related news, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the completion of the transaction, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jamere Jackson sold 2,612 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $3,728.05, for a total transaction of $9,737,666.60. Following the completion of the transaction, the chief financial officer owned 427 shares of the company's stock, valued at approximately $1,591,877.35. This trade represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,662 shares of company stock valued at $131,999,089. Company insiders own 2.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on AZO shares. Evercore ISI set a $3,950.00 price objective on shares of AutoZone in a research note on Monday, May 19th. JPMorgan Chase & Co. boosted their price target on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Mizuho lifted their price target on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $4,100.00 price target (up previously from $3,850.00) on shares of AutoZone in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, AutoZone has an average rating of "Buy" and an average price target of $4,087.00.

AutoZone Price Performance

NYSE AZO traded down $79.70 on Tuesday, hitting $3,692.60. The stock had a trading volume of 67,949 shares, compared to its average volume of 130,577. The business's fifty day moving average price is $3,703.97 and its 200 day moving average price is $3,568.89. AutoZone, Inc. has a 52-week low of $2,894.02 and a 52-week high of $3,916.81. The stock has a market cap of $61.96 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 2.21 and a beta of 0.39.

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

About AutoZone

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.