In this article we take a look at some stocks sold by Ken Fisher in the first quarter. To see the first part of this article and read about some more stocks that were offloaded by Fisher in Q1 go to Ken Fisher is Selling These 10 Stocks in 2022.
5. AutoZone, Inc. (NYSE:AZO)
Arkansas-based retailer of aftermarket automotive parts and accessories AutoZone, Inc. (NYSE:AZO) proved to be a profitable investment of Ken Fisher. Fisher Asset Management bought a $252,000 position in AutoZone, Inc. (NYSE:AZO) in the fourth quarter of 2021. However, the fund took profits and sold the stake in the first quarter. AutoZone, Inc. (NYSE:AZO) shares have gained about 33% in the last 12 months.
Elite hedge funds are showing an increased interest in AutoZone, Inc. (NYSE:AZO), as our data of 924 funds compiled at the end of the fourth quarter of 2021 shows that 45 funds had stakes in the company, compared to 35 funds in the third quarter.
4. Johnson Controls International plc (NYSE:JCI)
Johnson Controls International plc (NYSE:JCI) is an Ireland-based HVAC company. Johnson Controls International plc (NYSE:JCI) stock is down 32% year to date. Ken Fisher’s hedge fund sold its $209,000 stake in Johnson Controls International plc (NYSE:JCI) in the first quarter of 2022. Oppenheimer analyst Noah Kaye cut his price target on Johnson Controls International plc (NYSE:JCI) to $70 from $85 and kept an Outperform rating on the shares. As of the end of the first quarter of 2021, Louis Navellier’s Navellier & Associates has a $10.1 million stake in Johnson Controls International plc (NYSE:JCI).
3. Shell PLC (NYSE:SHEL)
Ken Fisher’s hedge fund sold its $813 million stake in Shell PLC (NYSE:SHEL) in the first quarter of 2022. The stock is up 43% in the past 12 months. Shell PLC (NYSE: SHEL)’s board recently announced an interim dividend in respect of Q1 of 25c per ordinary share.
Hedge funds are loading up on Shell PLC (NYSE: SHEL) stock amid a rebound in oil prices due to the geopolitical tensions around the world and increasing economic activity after the pandemic. 41 hedge funds had stakes in Shell PLC (NYSE:SHEL) at the end of the fourth quarter of 2021, compared to 33 funds a quarter earlier.
2. Kinder Morgan, Inc. (NYSE:KMI)
Texas-based energy infrastructure company Kinder Morgan, Inc. (NYSE:KMI) was sold by Ken Fisher’s hedge fund in the first quarter of 2022. In the last quarter of 2021, Ken Fisher had owned a $271,000 stake in Kinder Morgan, Inc. (NYSE:KMI). Recently, Truist analyst Neal Dingmann assumed coverage of Kinder Morgan, Inc. (NYSE:KMI) with a Buy rating and $22 price target.
As of the end of the fourth quarter of 2021, 39 hedge funds tracked by Insider Monkey had stakes in Kinder Morgan, Inc. (NYSE:KMI), compared to 43 funds a quarter earlier.
1. Starbucks Corporation (NASDAQ:SBUX)
Ken Fisher’s hedge fund cut its stake in Starbucks Corporation (NASDAQ:SBUX) by a whopping 98% in the first quarter of 2022, still ending the period with a $7.9 million stake in the company. Starbucks Corporation (NASDAQ:SBUX) shares are down 34% in the last 12 months. MKM Partners analyst Brett Levy decreased Starbucks Corporation (NASDAQ:SBUX)’s price target to $98 from $105 but kept a Buy rating on the shares. At the end of the fourth quarter, 53 hedge funds tracked by Insider Monkey had stakes in Starbucks Corporation (NASDAQ:SBUX).
