Rational Advisors Inc. Makes New $1.16 Million Investment in AutoZone, Inc. (NYSE:AZO)

Rational Advisors Inc. acquired a new position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 305 shares of the company's stock, valued at approximately $1,163,000.

A number of other institutional investors have also added to or reduced their stakes in AZO. Fortem Financial Group LLC raised its holdings in shares of AutoZone by 22.5% in the 1st quarter. Fortem Financial Group LLC now owns 462 shares of the company's stock valued at $1,762,000 after acquiring an additional 85 shares in the last quarter. Stegent Equity Advisors Inc. increased its position in shares of AutoZone by 6.6% during the 1st quarter. Stegent Equity Advisors Inc. now owns 113 shares of the company's stock valued at $431,000 after purchasing an additional 7 shares during the last quarter. Fidelis Capital Partners LLC increased its position in shares of AutoZone by 55.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 305 shares of the company's stock valued at $1,101,000 after purchasing an additional 109 shares during the last quarter. Cerity Partners LLC increased its position in shares of AutoZone by 7.0% during the 1st quarter. Cerity Partners LLC now owns 3,532 shares of the company's stock valued at $13,470,000 after purchasing an additional 230 shares during the last quarter. Finally, Narus Financial Partners LLC bought a new position in shares of AutoZone during the 1st quarter valued at about $233,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AZO shares. Mizuho raised their price target on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the stock an "overweight" rating in a research note on Monday, May 19th. Roth Capital set a $4,135.00 target price on AutoZone and gave the stock a "buy" rating in a report on Monday, June 2nd. UBS Group boosted their target price on AutoZone from $4,025.00 to $4,260.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Guggenheim boosted their price target on AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, AutoZone currently has an average rating of "Buy" and a consensus target price of $4,087.00.

Insiders Place Their Bets

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

AutoZone Price Performance

Shares of NYSE AZO traded down $79.70 during mid-day trading on Tuesday, reaching $3,692.60. The company's stock had a trading volume of 67,949 shares, compared to its average volume of 130,577. The firm has a market capitalization of $61.96 billion, a PE ratio of 24.99, a P/E/G ratio of 2.21 and a beta of 0.39. The stock has a fifty day moving average of $3,703.97 and a two-hundred day moving average of $3,568.89. AutoZone, Inc. has a 52 week low of $2,894.02 and a 52 week high of $3,916.81.

AutoZone (NYSE:AZO - Get Free Report) last released 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 business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 56.07% and a net margin of 13.56%. The business's revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned $36.69 EPS. Analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal 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.