Insider Selling: AutoZone, Inc. (NYSE:AZO) Chairman Sells 6,700 Shares of Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AutoZone Stock Performance

NYSE AZO opened at $3,192.79 on Thursday. The firm has a 50 day simple moving average of $2,902.37 and a 200-day simple moving average of $2,695.82. AutoZone, Inc. has a one year low of $2,277.88 and a one year high of $3,256.37. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 1.68 and a beta of 0.70.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $28.89 EPS for the quarter, beating the consensus estimate of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter last year, the firm posted $24.64 earnings per share. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. Equities analysts predict that AutoZone, Inc. will post 151.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AZO shares. UBS Group increased their target price on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a research report on Wednesday, February 28th. Raymond James raised shares of AutoZone from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $2,850.00 to $3,100.00 in a report on Wednesday, December 6th. Evercore ISI upped their price objective on shares of AutoZone from $3,375.00 to $3,400.00 and gave the company an “outperform” rating in a report on Tuesday. Truist Financial upped their price objective on shares of AutoZone from $3,027.00 to $3,363.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Finally, William Blair reissued an “outperform” rating on shares of AutoZone in a report on Wednesday, December 13th. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AutoZone currently has an average rating of “Moderate Buy” and an average price target of $3,080.72.

Institutional Trading of AutoZone

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in AutoZone by 1.4% in the second quarter. State Street Corp now owns 809,113 shares of the company’s stock valued at $2,017,410,000 after acquiring an additional 11,438 shares in the last quarter. International Assets Investment Management LLC raised its holdings in AutoZone by 232,194.6% in the fourth quarter. International Assets Investment Management LLC now owns 731,728 shares of the company’s stock valued at $1,891,963,000 after acquiring an additional 731,413 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in AutoZone by 107,977.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 699,260 shares of the company’s stock valued at $1,724,500,000 after acquiring an additional 698,613 shares in the last quarter. Royal Bank of Canada raised its holdings in AutoZone by 1.3% in the third quarter. Royal Bank of Canada now owns 441,566 shares of the company’s stock valued at $1,121,572,000 after acquiring an additional 5,650 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in AutoZone by 111.4% in the third quarter. Wellington Management Group LLP now owns 335,190 shares of the company’s stock valued at $851,379,000 after acquiring an additional 176,623 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

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.