Insider Selling: AutoZone (NYSE:AZO) SVP Sells $1,132,500.00 in Stock

AutoZone, Inc. (NYSE:AZO) SVP K. Michelle Borninkhof sold 300 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the completion of the transaction, the senior vice president owned 416 shares in the company, valued at approximately $1,570,400. The trade was a 41.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

AutoZone Price Performance

Shares of AZO stock opened at $3,674.69 on Friday. The company has a market capitalization of $61.12 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.75 and a beta of 0.40. The company’s 50-day simple moving average is $4,104.75 and its two-hundred day simple moving average is $3,881.42. AutoZone, Inc. has a one year low of $2,980.10 and a one year high of $4,388.11.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 EPS for the quarter, missing analysts’ consensus estimates of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the company earned $51.58 earnings per share. AutoZone’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share repurchase program on Wednesday, October 8th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AZO has been the topic of a number of recent research reports. Jefferies Financial Group increased their price target on AutoZone from $4,255.00 to $4,750.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI increased their target price on shares of AutoZone from $4,250.00 to $4,500.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Barclays increased their price objective on shares of AutoZone from $3,916.00 to $4,610.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Raymond James Financial dropped their price objective on shares of AutoZone from $4,900.00 to $4,800.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 24th. Finally, Rothschild & Co Redburn increased their target price on AutoZone from $4,300.00 to $4,700.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4,544.68.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently bought and sold shares of the company. AlphaCore Capital LLC acquired a new stake in AutoZone in the first quarter valued at approximately $27,000. Saudi Central Bank acquired a new stake in shares of AutoZone in the 1st quarter worth $27,000. Global Trust Asset Management LLC boosted its position in shares of AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares in the last quarter. Aspect Partners LLC boosted its holdings in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after acquiring an additional 7 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in AutoZone in the third quarter worth about $34,000. 92.74% of the stock is currently owned by institutional investors and hedge funds.

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.