AutoZone, Inc. (NYSE:AZO) is Firetrail Investments PTY Ltd.'s 8th Largest Position

Key Points

• Firetrail Investments PTY Ltd. increased its stake in AutoZone by 3.6%, bringing its holdings to approximately $15.91 million and making AutoZone its 8th largest investment.
• AutoZone's stock reported a net margin of 13.56% but missed earnings expectations with an EPS of $35.36, below the consensus estimate of $37.07.
• An increase in price targets from analysts, including a new target of $4,800 from Bank of America, indicates a generally positive outlook for AutoZone's stock performance.

Firetrail Investments PTY Ltd. boosted its stake in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,127 shares of the company's stock after acquiring an additional 143 shares during the quarter. AutoZone comprises about 4.6% of Firetrail Investments PTY Ltd.'s investment portfolio, making the stock its 8th biggest position. Firetrail Investments PTY Ltd.'s holdings in AutoZone were worth $15,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Meeder Advisory Services Inc. increased its stake in AutoZone by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company's stock worth $1,188,000 after acquiring an additional 3 shares during the last quarter. Tandem Wealth Advisors LLC raised its holdings in shares of 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 period. United Capital Financial Advisors LLC raised its holdings in shares of 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 period. Forum Financial Management LP raised its holdings in shares of AutoZone by 2.2% in the fourth quarter. Forum Financial Management LP now owns 138 shares of the company's stock worth $443,000 after buying an additional 3 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its stake in AutoZone by 2.2% in the first quarter. Wealthcare Advisory Partners LLC now owns 141 shares of the company's stock worth $538,000 after purchasing an additional 3 shares in the last quarter. 92.74% of the stock is owned by institutional investors.

AutoZone Price Performance

AZO traded down $22.30 on Friday, reaching $3,819.20. 80,657 shares of the stock were exchanged, compared to its average volume of 124,753. The company's 50-day moving average price is $3,711.34 and its 200 day moving average price is $3,597.71. AutoZone, Inc. has a fifty-two week low of $2,898.57 and a fifty-two week high of $3,916.81. The firm has a market capitalization of $64.09 billion, a PE ratio of 25.85, a PEG ratio of 2.28 and a beta of 0.39.

AutoZone (NYSE:AZO - Get Free Report) last posted its 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). The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The firm's revenue was up 5.4% on a year-over-year basis. During the same period last year, the business earned $36.69 earnings per share. As a group, equities analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction dated 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 completion of the transaction, the vice president owned 2,925 shares in the company, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jamere Jackson sold 2,612 shares of AutoZone stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value 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 represents a 85.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,862 shares of company stock valued at $126,058,789 in the last three months. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on AZO shares. JPMorgan Chase & Co. increased their price objective on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. The Goldman Sachs Group set a $3,811.00 price objective on AutoZone in a research note on Friday, May 23rd. DA Davidson increased their price objective on AutoZone from $4,192.00 to $4,850.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Raymond James Financial reissued a "strong-buy" rating on shares of AutoZone in a research note on Wednesday, May 28th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $4,100.00 price objective (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 given a strong buy rating to the company's stock. According to MarketBeat.com, AutoZone has an average rating of "Buy" and a consensus 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.