AutoZone (NYSE:AZO) CEO Philip Daniele Sells 2,533 Shares

AutoZone, Inc. (NYSE:AZO) CEO Philip Daniele sold 2,533 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $4,020.88, for a total value of $10,184,889.04. Following the completion of the transaction, the chief executive officer directly owned 55 shares of the company’s stock, valued at $221,148.40. The trade was a 97.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AutoZone Price Performance

NYSE AZO opened at $3,970.01 on Tuesday. AutoZone, Inc. has a 1-year low of $2,980.10 and a 1-year high of $4,388.11. The company has a market capitalization of $66.62 billion, a P/E ratio of 27.40, a PEG ratio of 1.90 and a beta of 0.40. The business has a 50 day moving average price of $4,149.60 and a 200 day moving average price of $3,867.94.

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

AutoZone declared that its board has authorized a stock repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Zacks Research downgraded AutoZone from a “hold” rating to a “strong sell” rating in a research note on Friday, September 26th. Raymond James Financial dropped their price target on AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 24th. DA Davidson reissued a “buy” rating and set a $4,850.00 price target on shares of AutoZone in a research report on Wednesday, September 24th. Wells Fargo & Company dropped their price target on AutoZone from $4,800.00 to $4,700.00 and set an “overweight” rating for the company in a research report on Wednesday, September 24th. Finally, Truist Financial dropped their price target on AutoZone from $4,504.00 to $4,499.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, AutoZone has an average rating of “Moderate Buy” and a consensus price target of $4,544.68.

Institutional Investors Weigh In On AutoZone

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of AutoZone by 0.6% in the second quarter. Vanguard Group Inc. now owns 1,771,004 shares of the company’s stock valued at $6,574,374,000 after purchasing an additional 11,142 shares during the period. JPMorgan Chase & Co. grew its position in shares of AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock valued at $3,570,296,000 after purchasing an additional 65,368 shares during the period. Laurel Wealth Advisors LLC grew its position in shares of AutoZone by 371,123.0% in the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after purchasing an additional 935,230 shares during the period. State Street Corp grew its position in shares of AutoZone by 1.6% in the second quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after purchasing an additional 11,088 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of AutoZone by 1.9% in the second quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock valued at $1,649,228,000 after purchasing an additional 8,187 shares during the period. Hedge funds and other institutional investors 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.