AutoZone (NYSE:AZO) VP Sells $4,510,500.00 in Stock

AutoZone, Inc. (NYSE:AZO) VP Dennis Leriche sold 1,455 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the transaction, the vice president owned 441 shares in the company, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

AutoZone Stock Down 0.1%

Shares of AZO opened at $3,038.92 on Thursday. AutoZone, Inc. has a 52-week low of $2,902.20 and a 52-week high of $4,388.11. The company has a market capitalization of $49.63 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 1.54 and a beta of 0.33. The stock has a fifty day simple moving average of $3,066.18 and a two-hundred day simple moving average of $3,364.71.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 26th. The company reported $38.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $36.22 by $1.85. AutoZone had a negative return on equity of 80.35% and a net margin of 12.40%.The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the firm earned $35.36 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, equities analysts anticipate that AutoZone, Inc. will post 150.39 earnings per share for the current fiscal year.

AutoZone announced that its board has initiated a stock buyback plan on Tuesday, June 16th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of AutoZone from $4,300.00 to $3,850.00 and set an “overweight” rating on the stock in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. Jefferies Financial Group lowered their price target on AutoZone from $4,400.00 to $4,000.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. The Goldman Sachs Group dropped their price target on AutoZone from $4,345.00 to $4,096.00 and set a “buy” rating on the stock in a research report on Wednesday, May 27th. Finally, Roth Capital reduced their price objective on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, AutoZone currently has a consensus rating of “Moderate Buy” and a consensus target price of $4,029.43.

Institutional Trading of AutoZone

Hedge funds and other institutional investors have recently made changes to their positions in the company. Turning Point Benefit Group Inc. acquired a new stake in AutoZone in the third quarter valued at about $25,000. Torren Management LLC purchased a new stake in shares of AutoZone in the fourth quarter valued at approximately $27,000. Transamerica Financial Advisors LLC boosted its stake in shares of AutoZone by 100.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock valued at $28,000 after buying an additional 4 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone during the second quarter worth $29,000. Finally, MCF Advisors LLC grew its holdings in AutoZone by 50.0% during the fourth quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after acquiring an additional 3 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Company Profile

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.