Insider Selling: AutoZone, Inc. (NYSE:AZO) Chairman Sells 300 Shares of Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at approximately $42,613,046.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AutoZone Price Performance

AZO stock opened at $3,053.45 on Tuesday. The firm has a market cap of $52.16 billion, a PE ratio of 21.12, a P/E/G ratio of 1.43 and a beta of 0.70. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The firm has a 50 day simple moving average of $3,132.67 and a 200 day simple moving average of $3,010.08.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing the consensus estimate of $53.31 by ($5.20). The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. AutoZone had a negative return on equity of 54.58% and a net margin of 14.60%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business earned $46.46 earnings per share. As a group, sell-side analysts expect that AutoZone, Inc. will post 151.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial reduced their price target on shares of AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Evercore ISI boosted their target price on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, UBS Group raised their target price on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $3,169.38.

Institutional Trading of AutoZone

A number of hedge funds have recently bought and sold shares of AZO. Rafferty Asset Management LLC boosted its stake in AutoZone by 3.7% in the 4th quarter. Rafferty Asset Management LLC now owns 1,718 shares of the company’s stock worth $4,442,000 after purchasing an additional 62 shares during the period. Envestnet Asset Management Inc. raised its position in AutoZone by 0.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 49,314 shares of the company’s stock valued at $127,507,000 after buying an additional 456 shares during the period. Vinva Investment Management Ltd lifted its stake in AutoZone by 28.7% in the 4th quarter. Vinva Investment Management Ltd now owns 413 shares of the company’s stock worth $1,060,000 after acquiring an additional 92 shares in the last quarter. Evercore Wealth Management LLC boosted its position in AutoZone by 0.6% during the 4th quarter. Evercore Wealth Management LLC now owns 58,226 shares of the company’s stock worth $150,550,000 after acquiring an additional 336 shares during the period. Finally, Sei Investments Co. grew its stake in AutoZone by 7.6% during the 4th quarter. Sei Investments Co. now owns 13,888 shares of the company’s stock valued at $35,914,000 after acquiring an additional 977 shares in the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

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.