AutoZone, Inc. (NYSE:AZO) is Fiera Capital Corp's 3rd Largest Position

Key Points

• Fiera Capital Corp reduced its stake in AutoZone by 19.3%, owning approximately 327,770 shares valued at around $1.25 billion, making it the fund's third largest holding.
• AutoZone reported earnings of $35.36 per share for the quarter, missing analysts' expectations of $37.07, despite achieving a revenue of $4.46 billion which exceeded forecasts.
• Analysts have set new price targets for AutoZone, with UBS raising their target to $4,260 and Bank of America increasing theirs to $4,800, reflecting a general consensus rating of “Buy” with an average target price of $4,087.

Fiera Capital Corp decreased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 327,770 shares of the company's stock after selling 78,255 shares during the quarter. AutoZone makes up approximately 4.5% of Fiera Capital Corp's holdings, making the stock its 3rd largest holding. Fiera Capital Corp owned about 1.95% of AutoZone worth $1,249,715,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AZO. Brighton Jones LLC lifted its holdings in AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock worth $356,000 after buying an additional 14 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of AutoZone in the 4th quarter valued at $410,000. Allstate Corp bought a new stake in shares of AutoZone in the 4th quarter valued at $1,633,000. Arrowstreet Capital Limited Partnership boosted its stake in AutoZone by 37.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 64,436 shares of the company's stock worth $206,324,000 after purchasing an additional 17,611 shares during the period. Finally, RWA Wealth Partners LLC boosted its stake in shares of AutoZone by 17.3% during the 4th quarter. RWA Wealth Partners LLC now owns 597 shares of the company's stock worth $1,912,000 after buying an additional 88 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Buying and Selling at AutoZone

In other news, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction dated 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 sale, the senior vice president directly owned 406 shares of the company's stock, 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 legal filing with the SEC, which is available at this link. Also, Chairman William C. Rhodes III sold 27,500 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the sale, the chairman directly owned 8,546 shares of the company's stock, valued at approximately $31,696,515.78. The trade was a 76.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,862 shares of company stock valued at $126,058,789. Insiders own 2.10% of the company's stock.

AutoZone Trading Up 2.0%

AZO stock traded up $77.24 during midday trading on Friday, hitting $3,845.62. The stock had a trading volume of 67,840 shares, compared to its average volume of 133,076. The firm has a market cap of $64.54 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 2.29 and a beta of 0.39. The business has a fifty day moving average price of $3,707.01 and a two-hundred day moving average price of $3,610.63. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $3,919.50.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results 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 net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same period last year, the company posted $36.69 EPS. The business's revenue was up 5.4% compared to the same quarter last year. On average, equities analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on AZO shares. Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and raised their target price for the company from $3,900.00 to $4,800.00 in a research note on Wednesday, May 21st. Wells Fargo & Company set a $4,200.00 target price on shares of AutoZone and gave the company an "overweight" rating in a research note on Monday, May 19th. Morgan Stanley reiterated an "overweight" rating and issued a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a research note on Wednesday, May 28th. DA Davidson raised their price objective on shares of AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Oppenheimer upgraded shares of AutoZone from a "market perform" rating to an "outperform" rating and set a $4,600.00 price objective for the company in a research report on Friday, May 2nd. Two 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. Based on data from MarketBeat.com, AutoZone has a consensus rating of "Buy" and a consensus price target of $4,087.00.

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.