William C. Rhodes III Sells 29,511 Shares of AutoZone, Inc. (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO – Get Rating) CEO William C. Rhodes III sold 29,511 shares of AutoZone stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $2,427.27, for a total value of $71,631,164.97. Following the completion of the transaction, the chief executive officer now directly owns 14,825 shares in the company, valued at $35,984,277.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AutoZone Stock Down 2.0 %

AZO opened at $2,365.00 on Friday. The firm has a market capitalization of $44.39 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.67 and a beta of 0.69. The stock’s 50 day moving average price is $2,452.02 and its two-hundred day moving average price is $2,384.69. AutoZone, Inc. has a 12-month low of $1,703.32 and a 12-month high of $2,610.05.

AutoZone (NYSE:AZO – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $24.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $21.33 by $3.31. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.56 billion. AutoZone had a negative return on equity of 64.72% and a net margin of 14.32%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $22.30 EPS. As a group, analysts anticipate that AutoZone, Inc. will post 127.22 earnings per share for the current year.

Institutional Trading of AutoZone

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AZO. RB Capital Management LLC acquired a new stake in shares of AutoZone during the 1st quarter worth approximately $274,000. Fairfield Bush & CO. acquired a new stake in shares of AutoZone during the 1st quarter worth approximately $57,000. Roundview Capital LLC grew its holdings in shares of AutoZone by 8.1% during the 1st quarter. Roundview Capital LLC now owns 426 shares of the company’s stock worth $871,000 after purchasing an additional 32 shares in the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of AutoZone by 31.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 237 shares of the company’s stock worth $485,000 after purchasing an additional 57 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of AutoZone by 24.4% during the 1st quarter. Sei Investments Co. now owns 12,966 shares of the company’s stock worth $26,331,000 after purchasing an additional 2,545 shares in the last quarter. Institutional investors and hedge funds own 91.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AZO shares. Wells Fargo & Company boosted their price target on AutoZone from $2,450.00 to $2,850.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 29th. Truist Financial lifted their price objective on AutoZone from $2,800.00 to $2,878.00 in a report on Wednesday, March 1st. Guggenheim upgraded AutoZone from a “neutral” rating to a “buy” rating and set a $2,735.00 price objective on the stock in a report on Monday, January 9th. The Goldman Sachs Group lifted their price objective on AutoZone from $2,563.00 to $2,899.00 and gave the stock a “buy” rating in a report on Wednesday, March 1st. Finally, Bank of America downgraded AutoZone from a “neutral” rating to an “underperform” rating in a report on Wednesday, December 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $2,652.76.

About AutoZone

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AutoZone, Inc engages in the retail and distribution of automotive replacement parts and accessories. The firm offers ALLDATA, which produces, sells, and maintains diagnostic and repair information software used in the automotive repair industry and E-commerce, which includes direct sales to customers.