AutoZone, Inc. (NYSE:AZO) Chairman Sells $40,392,950.00 in Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

AutoZone Stock Up 0.7 %

NYSE AZO opened at $3,129.78 on Friday. The company has a market capitalization of $53.46 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.59 and a beta of 0.70. AutoZone, Inc. has a twelve month low of $2,375.35 and a twelve month high of $3,256.37. The stock has a fifty day simple moving average of $3,130.48 and a 200 day simple moving average of $3,008.09.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $46.46 earnings per share. Research analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Institutional Trading of AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of AZO. Rise Advisors LLC acquired a new stake in AutoZone in the first quarter valued at $32,000. Riverview Trust Co acquired a new stake in AutoZone during the 1st quarter worth about $41,000. Meeder Asset Management Inc. grew its holdings in AutoZone by 50.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock worth $44,000 after acquiring an additional 5 shares during the period. E Fund Management Hong Kong Co. Ltd. acquired a new stake in AutoZone during the 2nd quarter worth about $50,000. Finally, ORG Partners LLC acquired a new stake in AutoZone during the 2nd quarter worth about $50,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AZO. UBS Group boosted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. BNP Paribas upgraded AutoZone to a “strong-buy” rating in a research note on Wednesday, September 25th. Truist Financial cut their target price on AutoZone from $3,394.00 to $3,341.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Wedbush restated an “outperform” rating and set a $3,200.00 target price on shares of AutoZone in a research note on Thursday, September 19th. Finally, Evercore ISI upped their target price on AutoZone from $3,300.00 to $3,350.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $3,182.33.

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.