AutoZone (NYSE:AZO) VP Richard Craig Smith Sells 5,910 Shares

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 5,910 shares of the stock in a transaction on Friday, January 23rd. The stock was sold at an average price of $3,700.00, for a total transaction of $21,867,000.00. Following the transaction, the vice president directly owned 2,627 shares in the company, valued at $9,719,900. The trade was a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Richard Craig Smith also recently made the following trade(s):

• On Friday, January 16th, Richard Craig Smith sold 3,190 shares of AutoZone stock. The stock was sold at an average price of $3,500.00, for a total value of $11,165,000.00.

AutoZone Stock Performance

Shares of AZO stock opened at $3,800.59 on Wednesday. The stock’s 50 day simple moving average is $3,583.70 and its 200 day simple moving average is $3,850.29. AutoZone, Inc. has a twelve month low of $3,210.72 and a twelve month high of $4,388.11. The company has a market capitalization of $62.97 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.81 and a beta of 0.42.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter last year, the business earned $32.52 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone announced that its board has initiated a stock buyback program on Wednesday, October 8th that permits the company to buyback $0.00 in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of recent analyst reports. DA Davidson decreased their price target on shares of AutoZone from $4,850.00 to $4,500.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Citigroup cut their price objective on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Robert W. Baird raised AutoZone to a “strong-buy” rating in a report on Thursday, December 4th. BMO Capital Markets dropped their price target on AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 10th. Finally, Rothschild & Co Redburn increased their price objective on AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

Hedge Funds Weigh In On AutoZone

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in AutoZone by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,797,548 shares of the company’s stock valued at $7,711,912,000 after buying an additional 26,544 shares in the last quarter. Laurel Wealth Advisors LLC lifted its holdings in shares of AutoZone by 371,123.0% during the second quarter. Laurel Wealth Advisors LLC now owns 935,482 shares of the company’s stock valued at $3,472,724,000 after acquiring an additional 935,230 shares during the period. State Street Corp boosted its stake in shares of AutoZone by 1.6% in the 2nd quarter. State Street Corp now owns 714,091 shares of the company’s stock valued at $2,650,870,000 after purchasing an additional 11,088 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AutoZone by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 444,671 shares of the company’s stock worth $1,649,228,000 after purchasing an additional 8,187 shares during the last quarter. Finally, PineStone Asset Management Inc. increased its position in shares of AutoZone by 1.5% during the 4th quarter. PineStone Asset Management Inc. now owns 269,173 shares of the company’s stock worth $912,900,000 after purchasing an additional 3,868 shares in the last quarter. 92.74% of the stock is owned by institutional investors and hedge funds.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.