Insider Selling: AutoZone (NYSE:AZO) Director Sells $1,075,872.00 in Stock

AutoZone, Inc. (NYSE:AZO) Director George Mrkonic, Jr. sold 336 shares of the firm’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $3,202.00, for a total transaction of $1,075,872.00. Following the completion of the sale, the director owned 3,228 shares of the company’s stock, valued at $10,336,056. The trade was a 9.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

AutoZone Trading Up 2.5%

Shares of NYSE AZO opened at $3,751.68 on Monday. The firm has a market capitalization of $62.17 billion, a P/E ratio of 26.16, a P/E/G ratio of 1.79 and a beta of 0.41. The firm’s 50-day moving average price is $3,594.55 and its 200-day moving average price is $3,829.06. AutoZone, Inc. has a 1-year low of $3,210.72 and a 1-year high of $4,388.11.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AZO shares. Evercore increased their target price on AutoZone from $4,100.00 to $4,125.00 and gave the stock an “outperform” rating in a report on Friday. Oppenheimer dropped their price objective on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating on the stock in a research note on Friday, January 9th. Wells Fargo & Company reduced their price objective on shares of AutoZone from $4,700.00 to $4,500.00 and set an “overweight” rating for the company in a report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of AutoZone in a research report on Monday, February 23rd. Finally, UBS Group reaffirmed a “buy” rating and issued a $4,555.00 price target on shares of AutoZone in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $4,280.63.

Institutional Trading of AutoZone

A number of hedge funds have recently bought and sold shares of AZO. Turning Point Benefit Group Inc. bought a new position in AutoZone in the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. purchased a new position in shares of AutoZone in the 3rd quarter worth about $26,000. Torren Management LLC bought a new position in AutoZone during the fourth quarter valued at about $27,000. Transamerica Financial Advisors LLC increased its holdings in AutoZone by 100.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after buying an additional 4 shares during the last quarter. Finally, Aspect Partners LLC increased its holdings in AutoZone by 700.0% during the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

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.