Fortem Financial Group LLC Purchases 85 Shares of AutoZone, Inc. (NYSE:AZO)

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

A number of other hedge funds have also made changes to their positions in the stock. PDS Planning Inc lifted its position in shares of AutoZone by 2.3% in the fourth quarter. PDS Planning Inc now owns 132 shares of the company's stock worth $423,000 after purchasing an additional 3 shares in the last quarter. Harbour Investments Inc. increased its holdings in AutoZone by 42.9% in the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares during the last quarter. Meeder Advisory Services Inc. increased its holdings in AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after buying an additional 3 shares during the last quarter. Tandem Wealth Advisors LLC increased its holdings in AutoZone by 3.6% in the fourth quarter. Tandem Wealth Advisors LLC now owns 87 shares of the company's stock worth $279,000 after buying an additional 3 shares during the last quarter. Finally, United Capital Financial Advisors LLC increased its holdings in AutoZone by 0.3% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,120 shares of the company's stock worth $3,585,000 after buying an additional 3 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Stock Performance

Shares of AZO traded down $26.32 during mid-day trading on Friday, hitting $3,702.16. The company's stock had a trading volume of 105,635 shares, compared to its average volume of 130,764. AutoZone, Inc. has a one year low of $2,894.02 and a one year high of $3,916.81. The firm has a market capitalization of $62.12 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 2.22 and a beta of 0.39. The stock's 50-day moving average is $3,704.16 and its two-hundred day moving average is $3,561.04.

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

Insider Buying and Selling at AutoZone

In related news, SVP K. Michelle Borninkhof sold 750 shares of AutoZone stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. This trade represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the completion of the sale, the vice president owned 159 shares of the company's stock, valued at approximately $581,940. The trade was a 96.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,662 shares of company stock worth $131,999,089 over the last three months. 2.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AZO shares. Roth Capital set a $4,135.00 price objective on AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. Wells Fargo & Company set a $4,200.00 price objective on AutoZone and gave the stock an "overweight" rating in a report on Monday, May 19th. Guggenheim increased their price objective on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. BMO Capital Markets restated an "outperform" rating and issued a $4,100.00 price objective (up previously from $3,850.00) on shares of AutoZone in a report on Wednesday, May 28th. Finally, Raymond James Financial restated a "strong-buy" rating on shares of AutoZone in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $4,087.00.

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.