Fortem Financial Group LLC Raises Position in AutoZone, Inc. (NYSE:AZO)

Fortem Financial Group LLC increased its stake in shares of AutoZone, Inc. (NYSE:AZO) by 4.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 377 shares of the company’s stock after acquiring an additional 17 shares during the period. Fortem Financial Group LLC’s holdings in AutoZone were worth $1,207,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in AutoZone during the 3rd quarter worth $36,000. Meeder Asset Management Inc. lifted its stake in shares of AutoZone by 50.0% in the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares in the last quarter. Carolina Wealth Advisors LLC purchased a new position in AutoZone in the third quarter valued at about $47,000. Darwin Wealth Management LLC acquired a new stake in AutoZone during the 3rd quarter valued at approximately $47,000. Finally, McIlrath & Eck LLC increased its holdings in AutoZone by 25.0% during the 3rd quarter. McIlrath & Eck LLC now owns 20 shares of the company’s stock worth $63,000 after purchasing an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

Insider Activity at AutoZone

In other AutoZone news, Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 48.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Roth Mkm reiterated a “buy” rating and set a $3,634.00 target price on shares of AutoZone in a research note on Wednesday, October 16th. Mizuho increased their price target on shares of AutoZone from $3,350.00 to $3,600.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Roth Capital raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Wells Fargo & Company upped their price target on AutoZone from $3,450.00 to $3,750.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Truist Financial lifted their price objective on shares of AutoZone from $3,501.00 to $3,753.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3,400.32.

AutoZone Stock Performance

Shares of AZO stock traded up $26.35 during midday trading on Monday, reaching $3,295.13. 92,604 shares of the company were exchanged, compared to its average volume of 102,511. The company’s 50 day moving average price is $3,187.85 and its two-hundred day moving average price is $3,114.26. The company has a market cap of $55.30 billion, a P/E ratio of 22.01, a PEG ratio of 1.73 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,510.00 and a 12 month high of $3,416.71.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 10th. The company reported $32.52 earnings per share for the quarter, missing analysts’ consensus estimates of $33.69 by ($1.17). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company earned $32.55 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts predict that AutoZone, Inc. will post 154.29 earnings per share for the current year.

AutoZone Company 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.