Insider Selling: AutoZone, Inc. (NYSE:AZO) Chairman Sells 27,500 Shares of Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 27,500 shares of the business’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total transaction of $101,995,575.00. Following the transaction, the chairman now directly owns 8,546 shares of the company’s stock, valued at approximately $31,696,515.78. This represents a 76.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AutoZone Trading Up 0.5%

Shares of NYSE AZO opened at $3,675.72 on Friday. AutoZone, Inc. has a 1-year low of $2,792.14 and a 1-year high of $3,916.81. The business’s 50 day moving average is $3,693.02 and its 200-day moving average is $3,503.61. The firm has a market cap of $61.69 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.41 billion. During the same quarter in the previous year, the company earned $36.69 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley reiterated an “overweight” rating and issued a $4,000.00 price objective (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Wells Fargo & Company set a $4,200.00 price target on shares of AutoZone and gave the company an “overweight” rating in a report on Monday, May 19th. Bank of America upgraded shares of AutoZone from a “neutral” rating to a “buy” rating and upped their target price for the company from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Argus cut AutoZone from a “buy” rating to a “hold” rating in a research note on Wednesday, March 5th. Finally, Guggenheim boosted their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, AutoZone has an average rating of “Buy” and an average price target of $4,072.24.

Institutional Investors Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pittenger & Anderson Inc. lifted its holdings in AutoZone by 5.2% during the 4th quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock worth $195,000 after buying an additional 3 shares during the period. Sound View Wealth Advisors Group LLC grew its holdings in shares of AutoZone by 2.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock valued at $487,000 after buying an additional 3 shares during the last quarter. PDS Planning Inc boosted its position in shares of AutoZone by 2.3% during the fourth quarter. PDS Planning Inc now owns 132 shares of the company’s stock valued at $423,000 after buying an additional 3 shares during the last quarter. Harbour Investments Inc. grew its position in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock worth $32,000 after purchasing an additional 3 shares in the last quarter. Finally, Meeder Advisory Services Inc. boosted its position in AutoZone by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock worth $1,188,000 after purchasing an additional 3 shares during the last quarter. Institutional investors own 92.74% of the company’s stock.

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.