AutoZone, Inc. (NYSE:AZO) CEO Philip B. Daniele Sells 2,000 Shares of Stock

AutoZone, Inc. (NYSE:AZO) CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the transaction, the chief executive officer now owns 163 shares of the company’s stock, valued at $619,401.63. This represents a 92.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

AutoZone Trading Down 1.5 %

AZO opened at $3,769.72 on Friday. The company has a fifty day moving average price of $3,483.80 and a two-hundred day moving average price of $3,278.52. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,838.00. The company has a market cap of $63.26 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.71.

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

Institutional Investors Weigh In On AutoZone

Hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC grew its position in 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 period. Norges Bank acquired a new position in AutoZone during the fourth quarter worth $834,556,000. Strategic Financial Concepts LLC bought a new position in shares of AutoZone in the fourth quarter valued at $471,629,000. Wealthfront Advisers LLC grew its holdings in shares of AutoZone by 6,083.9% during the fourth quarter. Wealthfront Advisers LLC now owns 90,656 shares of the company’s stock valued at $290,281,000 after buying an additional 89,190 shares during the last quarter. Finally, Barclays PLC increased its position in shares of AutoZone by 82.6% during the fourth quarter. Barclays PLC now owns 170,216 shares of the company’s stock worth $545,033,000 after acquiring an additional 77,015 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AZO. BMO Capital Markets raised their price objective on shares of AutoZone from $3,700.00 to $3,850.00 and gave the company an “outperform” rating in a report on Wednesday, March 5th. Mizuho lifted their price target on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on AutoZone from $3,775.00 to $3,830.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. Barclays lifted their target price on AutoZone from $3,024.00 to $3,585.00 and gave the stock an “overweight” rating in a report on Thursday, January 9th. Finally, Guggenheim increased their price target on AutoZone from $3,750.00 to $3,850.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.