AutoZone, Inc. (NYSE:AZO) VP Sells $10,288,500.00 in Stock

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 2,850 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the transaction, the vice president now directly owns 2,924 shares in the company, valued at approximately $10,555,640. The trade was a 49.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AutoZone Trading Up 0.9 %

Shares of AutoZone stock opened at $3,605.88 on Friday. The stock has a 50 day moving average of $3,433.28 and a 200 day moving average of $3,257.92. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,704.43. The firm has a market cap of $60.51 billion, a PE ratio of 24.09, a PEG ratio of 1.86 and a beta of 0.71.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $28.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.98 billion. AutoZone had a net margin of 14.18% and a negative return on equity of 53.89%. As a group, equities research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AutoZone

Several institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock valued at $1,326,545,000 after purchasing an additional 7,365 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of AutoZone by 482,040.2% in the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock valued at $1,343,117,000 after purchasing an additional 419,375 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of AutoZone by 5.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock valued at $1,039,421,000 after purchasing an additional 17,518 shares during the last quarter. Norges Bank bought a new stake in shares of AutoZone in the 4th quarter valued at approximately $834,556,000. Finally, PineStone Asset Management Inc. raised its holdings in shares of AutoZone by 6.9% in the fourth quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock worth $683,867,000 after buying an additional 13,771 shares during the period. 92.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays upped their price target on AutoZone from $3,024.00 to $3,585.00 and gave the company an “overweight” rating in a report on Thursday, January 9th. Truist Financial upped their price target on AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Roth Capital set a $3,763.00 price target on AutoZone in a report on Wednesday, March 5th. Bank of America upped their price target on AutoZone from $3,600.00 to $3,700.00 and gave the company a “neutral” rating in a report on Wednesday, March 5th. Finally, Raymond James reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $3,683.36.

AutoZone Company Profile

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.