Fiera Capital Corp Sells 21,775 Shares of AutoZone, Inc. $AZO

Fiera Capital Corp cut its holdings in shares of AutoZone, Inc. (NYSE:AZO) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 305,995 shares of the company’s stock after selling 21,775 shares during the quarter. AutoZone comprises approximately 3.9% of Fiera Capital Corp’s portfolio, making the stock its 5th biggest holding. Fiera Capital Corp owned approximately 1.82% of AutoZone worth $1,135,924,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new stake in AutoZone during the 1st quarter worth approximately $27,000. Saudi Central Bank acquired a new position in shares of AutoZone in the first quarter worth about $27,000. Aspect Partners LLC boosted its stake in shares of AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after buying an additional 7 shares during the last quarter. Bank of Jackson Hole Trust bought a new position in shares of AutoZone during the second quarter worth about $33,000. Finally, NewSquare Capital LLC raised its position in shares of AutoZone by 50.0% during the 2nd quarter. NewSquare Capital LLC now owns 9 shares of the company’s stock valued at $33,000 after acquiring an additional 3 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AZO shares. Wells Fargo & Company dropped their price objective on shares of AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 24th. Zacks Research downgraded AutoZone from a “hold” rating to a “strong sell” rating in a report on Friday, September 26th. Guggenheim upped their price objective on AutoZone from $4,100.00 to $4,600.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of AutoZone in a research report on Thursday, September 18th. Finally, Rothschild & Co Redburn boosted their price target on shares of AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4,544.68.

Insider Activity

In related news, SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the transaction, the senior vice president owned 416 shares in the company, valued at $1,570,400. This trade represents a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Philip B. Daniele sold 2,533 shares of the company’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the sale, the chief executive officer owned 55 shares of the company’s stock, valued at $221,148.40. This trade represents a 97.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 5,693 shares of company stock worth $23,259,891 over the last three months. Corporate insiders own 2.60% of the company’s stock.

AutoZone Stock Performance

Shares of AZO stock opened at $3,791.94 on Thursday. AutoZone, Inc. has a 1 year low of $3,036.40 and a 1 year high of $4,388.11. The firm has a market capitalization of $63.07 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 1.75 and a beta of 0.37. The stock has a fifty day moving average of $4,026.36 and a two-hundred day moving average of $3,887.96.

AutoZone (NYSE:AZO) last issued its quarterly earnings data on Tuesday, September 23rd. The company reported $48.71 earnings per share for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.26 billion. AutoZone had a net margin of 13.19% and a negative return on equity of 60.49%. AutoZone’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $51.58 earnings per share. Equities research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone declared that its board has initiated a share repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.