Earl Graves, Jr. Sells 50 Shares of AutoZone (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) Director Earl Graves, Jr. sold 50 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $3,478.72, for a total value of $173,936.00. Following the transaction, the director owned 4,837 shares in the company, valued at approximately $16,826,568.64. This represents a 1.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AutoZone Price Performance

Shares of NYSE:AZO opened at $3,544.16 on Thursday. AutoZone, Inc. has a 1 year low of $3,210.72 and a 1 year high of $4,388.11. The company has a market cap of $58.41 billion, a PE ratio of 24.83, a P/E/G ratio of 1.79 and a beta of 0.41. The stock’s 50-day moving average is $3,577.82 and its 200 day moving average is $3,674.70.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $27.59 by $0.04. AutoZone had a negative return on equity of 72.31% and a net margin of 12.47%.The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.31 billion. During the same quarter in the previous year, the business earned $28.29 EPS. AutoZone’s revenue was up 8.2% compared to the same quarter last year. Analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on AutoZone from $4,100.00 to $4,300.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Roth Mkm reduced their target price on AutoZone from $4,650.00 to $4,526.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Barclays upped their target price on AutoZone from $3,800.00 to $3,900.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. UBS Group set a $4,800.00 target price on AutoZone in a report on Tuesday, March 3rd. Finally, Citigroup upped their target price on AutoZone from $4,200.00 to $4,300.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4,312.13.

Institutional Trading of AutoZone

Several hedge funds and other institutional investors have recently made changes to their positions in AZO. Brighton Jones LLC grew its stake in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after buying an additional 14 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of AutoZone in the 2nd quarter worth approximately $356,000. Guggenheim Capital LLC grew its stake in shares of AutoZone by 3.8% in the 2nd quarter. Guggenheim Capital LLC now owns 248 shares of the company’s stock worth $921,000 after buying an additional 9 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of AutoZone by 8.9% in the 2nd quarter. NewEdge Advisors LLC now owns 1,376 shares of the company’s stock worth $5,110,000 after buying an additional 112 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of AutoZone by 52.3% in the 2nd quarter. Treasurer of the State of North Carolina now owns 11,763 shares of the company’s stock worth $43,667,000 after buying an additional 4,039 shares during the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.