AutoZone, Inc. (NYSE:AZO) Chairman Sells $21,374,474.00 in Stock

AutoZone, Inc. (NYSE:AZOGet Free Report) Chairman William C. Rhodes III sold 6,700 shares of AutoZone stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total value of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares in the company, valued at $48,992,208.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

AutoZone Trading Up 0.7 %

Shares of AZO opened at $3,191.48 on Wednesday. The company’s 50-day moving average price is $2,891.93 and its 200 day moving average price is $2,691.78. AutoZone, Inc. has a 12-month low of $2,277.88 and a 12-month high of $3,256.37. The firm has a market cap of $55.21 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.70.

AutoZone (NYSE:AZOGet Free Report) last released its quarterly earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $26.08 by $2.81. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the previous year, the firm earned $24.64 EPS. The business’s revenue was up 4.6% on a year-over-year basis. Equities research analysts forecast that AutoZone, Inc. will post 151.33 earnings per share for the current year.

Institutional Trading of AutoZone

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its stake in shares of AutoZone by 8.2% in the third quarter. Rosenberg Matthew Hamilton now owns 53 shares of the company’s stock valued at $135,000 after buying an additional 4 shares in the last quarter. CWM LLC increased its stake in AutoZone by 1.3% during the third quarter. CWM LLC now owns 301 shares of the company’s stock worth $765,000 after purchasing an additional 4 shares during the period. Private Trust Co. NA lifted its position in shares of AutoZone by 2.9% during the third quarter. Private Trust Co. NA now owns 142 shares of the company’s stock worth $361,000 after purchasing an additional 4 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of AutoZone by 2.0% in the third quarter. Venturi Wealth Management LLC now owns 202 shares of the company’s stock valued at $513,000 after purchasing an additional 4 shares during the period. Finally, Plancorp LLC grew its holdings in shares of AutoZone by 3.0% in the third quarter. Plancorp LLC now owns 136 shares of the company’s stock valued at $345,000 after purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AZO. Wedbush lifted their target price on shares of AutoZone from $2,950.00 to $3,400.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 28th. Truist Financial upped their price objective on shares of AutoZone from $3,027.00 to $3,363.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. UBS Group increased their price objective on shares of AutoZone from $3,100.00 to $3,425.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Stephens boosted their target price on AutoZone from $3,000.00 to $3,070.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. Finally, StockNews.com cut AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, AutoZone presently has an average rating of “Moderate Buy” and an average target price of $3,080.72.

Read Our Latest Report on AutoZone

AutoZone Company Profile

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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.

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Insider Buying and Selling by Quarter for AutoZone (NYSE:AZO)

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