Insider Selling: AutoZone, Inc. (NYSE:AZO) CEO Sells 2,000 Shares of Stock

AutoZone, Inc. (NYSE:AZO) CEO Philip B. Daniele sold 2,000 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 163 shares of the company’s stock, valued at $619,401.63. The trade was a 92.46 % 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 Trading Down 1.5 %

Shares of AZO stock opened at $3,769.72 on Friday. The firm’s 50 day moving average is $3,483.80 and its 200 day moving average is $3,278.52. The stock has a market capitalization of $63.26 billion, a P/E ratio of 25.19, a PEG ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a 12 month low of $2,728.97 and a 12 month high of $3,838.00.

AutoZone (NYSE:AZO) last posted its earnings results 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 for the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. On average, equities analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Roth Capital set a $3,763.00 target price on shares of AutoZone in a research note on Wednesday, March 5th. TD Cowen upped their price objective on shares of AutoZone from $3,450.00 to $3,800.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Wedbush reissued an “outperform” rating and set a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Roth Mkm upped their target price on AutoZone from $3,634.00 to $3,763.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Truist Financial lifted their price target on AutoZone from $3,753.00 to $3,841.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $3,683.36.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AZO. Pittenger & Anderson Inc. increased its position in shares of AutoZone by 5.2% during the fourth quarter. Pittenger & Anderson Inc. now owns 61 shares of the company’s stock valued at $195,000 after buying an additional 3 shares during the period. Sound View Wealth Advisors Group LLC increased its holdings in AutoZone by 2.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 152 shares of the company’s stock worth $487,000 after acquiring an additional 3 shares during the period. PDS Planning Inc lifted its stake in AutoZone by 2.3% in the 4th quarter. PDS Planning Inc now owns 132 shares of the company’s stock worth $423,000 after purchasing an additional 3 shares in the last quarter. Harbour Investments Inc. boosted its holdings in AutoZone by 42.9% in the 4th quarter. Harbour Investments Inc. now owns 10 shares of the company’s stock valued at $32,000 after purchasing an additional 3 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in shares of AutoZone by 0.8% during the 4th quarter. Meeder Advisory Services Inc. now owns 371 shares of the company’s stock valued at $1,188,000 after purchasing an additional 3 shares in the last quarter. Institutional investors own 92.74% of the company’s stock.

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.