Fenimore Asset Management Inc Reduces Position in AutoZone, Inc. (NYSE:AZO)

Fenimore Asset Management Inc decreased its stake in AutoZone, Inc. (NYSE:AZO - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,400 shares of the company's stock after selling 273 shares during the period. AutoZone accounts for 2.7% of Fenimore Asset Management Inc's investment portfolio, making the stock its 14th largest holding. Fenimore Asset Management Inc owned about 0.20% of AutoZone worth $127,347,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AZO. Colonial Trust Co SC lifted its stake in shares of AutoZone by 24.5% in the 4th quarter. Colonial Trust Co SC now owns 61 shares of the company's stock worth $197,000 after acquiring an additional 12 shares during the period. Comerica Bank increased its holdings in AutoZone by 5.4% during the 4th quarter. Comerica Bank now owns 4,262 shares of the company's stock valued at $13,647,000 after acquiring an additional 217 shares in the last quarter. Barclays PLC increased its holdings in AutoZone by 82.6% during the 4th quarter. Barclays PLC now owns 170,216 shares of the company's stock valued at $545,033,000 after acquiring an additional 77,015 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of AutoZone by 13.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 66,016 shares of the company's stock worth $211,383,000 after buying an additional 7,586 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of AutoZone by 41.1% during the fourth quarter. Russell Investments Group Ltd. now owns 73,044 shares of the company's stock worth $233,718,000 after buying an additional 21,266 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on AZO shares. Argus cut shares of AutoZone from a "buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Wedbush reaffirmed an "outperform" rating and set a $3,700.00 price target on shares of AutoZone in a research report on Wednesday, March 5th. UBS Group lifted their price objective on shares of AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Morgan Stanley restated an "overweight" rating and issued a $4,000.00 price target (up previously from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. Finally, JPMorgan Chase & Co. lifted 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 note on Friday, May 23rd. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $4,072.24.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 136 shares of AutoZone stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $3,550.08, for a total transaction of $482,810.88. Following the completion of the transaction, the senior vice president now directly owns 403 shares of the company's stock, valued at approximately $1,430,682.24. This trade represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Domingo Hurtado sold 4,800 shares of AutoZone stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $3,660.00, for a total value of $17,568,000.00. Following the transaction, the vice president now directly owns 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. Over the last three months, insiders sold 12,398 shares of company stock valued at $45,676,997. 2.10% of the stock is owned by company insiders.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,718.93 on Monday. The stock has a market cap of $62.41 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.86 and a beta of 0.40. The business has a 50 day simple moving average of $3,693.79 and a 200 day simple moving average of $3,493.06. AutoZone, Inc. has a 52 week low of $2,765.82 and a 52 week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. 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 previous year, the firm posted $36.69 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. On average, analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

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.

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