Philip B. Daniele Sells 2,000 Shares of AutoZone, Inc. (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) CEO Philip B. Daniele sold 2,000 shares of AutoZone stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares of the company’s stock, valued at approximately $619,401.63. The trade was a 92.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AutoZone Price Performance

Shares of NYSE:AZO traded down $58.39 during trading on Friday, hitting $3,769.72. The company had a trading volume of 166,671 shares, compared to its average volume of 130,427. AutoZone, Inc. has a one year low of $2,728.97 and a one year high of $3,860.85. The stock has a market cap of $63.26 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71. The company has a fifty day simple moving average of $3,472.82 and a two-hundred day simple moving average of $3,273.98.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing analysts’ consensus estimates of $29.11 by ($0.82). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. On average, equities research analysts anticipate that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Hedge Funds Weigh In On AutoZone

Large investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC lifted its stake in shares of AutoZone by 5.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 154 shares of the company’s stock valued at $484,000 after purchasing an additional 8 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of AutoZone in the 3rd quarter valued at about $712,000. Independent Advisor Alliance boosted its stake in AutoZone by 11.1% during the 3rd quarter. Independent Advisor Alliance now owns 271 shares of the company’s stock worth $854,000 after purchasing an additional 27 shares during the period. Qsemble Capital Management LP acquired a new position in shares of AutoZone in the third quarter valued at approximately $249,000. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of AutoZone by 232.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 715 shares of the company’s stock worth $2,252,000 after acquiring an additional 500 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a research note on Wednesday, March 5th. Guggenheim boosted their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Wells Fargo & Company boosted their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Roth Mkm raised their price target on shares of AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Argus lowered shares of AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,683.36.

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.