AutoZone, Inc. (NYSE:AZO) CEO William C. Rhodes III Sells 3,800 Shares of Stock

AutoZone, Inc. (NYSE:AZO – Get Rating) CEO William C. Rhodes III sold 3,800 shares of the company’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $2,431.95, for a total transaction of $9,241,410.00. Following the sale, the chief executive officer now directly owns 14,825 shares of the company’s stock, valued at approximately $36,053,658.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

AutoZone Stock Performance

NYSE AZO opened at $2,433.23 on Thursday. The company has a market capitalization of $45.66 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.76 and a beta of 0.76. AutoZone, Inc. has a one year low of $1,703.32 and a one year high of $2,610.05. The stock has a 50 day moving average price of $2,462.21 and a 200-day moving average price of $2,301.07.

AutoZone (NYSE:AZO – Get Rating) last posted its earnings results on Tuesday, December 6th. The company reported $27.45 EPS for the quarter, beating analysts’ consensus estimates of $24.82 by $2.63. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.87 billion. AutoZone had a negative return on equity of 69.45% and a net margin of 14.57%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company earned $25.69 EPS. As a group, equities analysts predict that AutoZone, Inc. will post 124.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on AZO. Guggenheim raised shares of AutoZone from a “neutral” rating to a “buy” rating and set a $2,735.00 price target for the company in a research report on Monday. Wedbush increased their target price on shares of AutoZone from $2,350.00 to $2,600.00 in a report on Monday, November 28th. Citigroup increased their target price on shares of AutoZone from $2,520.00 to $2,782.00 in a report on Wednesday, December 7th. Truist Financial increased their target price on shares of AutoZone from $2,792.00 to $2,800.00 and gave the stock a “buy” rating in a report on Wednesday, December 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of AutoZone from $2,550.00 to $2,660.00 and gave the stock an “overweight” rating in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2,578.81.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Belmont Capital LLC bought a new position in shares of AutoZone during the 3rd quarter valued at approximately $26,000. Robbins Farley bought a new stake in AutoZone in the third quarter worth $26,000. Legacy Bridge LLC bought a new stake in AutoZone in the fourth quarter worth $32,000. WD Rutherford LLC bought a new stake in AutoZone in the third quarter worth $32,000. Finally, MUFG Americas Holdings Corp lifted its position in AutoZone by 166.7% in the third quarter. MUFG Americas Holdings Corp now owns 16 shares of the company’s stock worth $34,000 after buying an additional 10 shares during the last quarter. 91.12% of the stock is currently owned by institutional investors.

AutoZone Company Profile

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AutoZone, Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps, as well as tire repairs.