AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III Sells 13,000 Shares of Stock

by · The Cerbat Gem

AutoZone, Inc. (NYSE:AZO – Get Free Report) Chairman William C. Rhodes III sold 13,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company’s stock, valued at approximately $43,055,777.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AutoZone Price Performance

NYSE:AZO opened at $3,129.78 on Friday. AutoZone, Inc. has a one year low of $2,375.35 and a one year high of $3,256.37. The business has a fifty day moving average price of $3,130.48 and a 200-day moving average price of $3,009.36. The firm has a market capitalization of $53.46 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70.

AutoZone (NYSE:AZO – Get Free Report) last issued its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 EPS for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). The company had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $6.25 billion. AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $46.46 EPS. On average, equities research analysts expect that AutoZone, Inc. will post 157.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AutoZone

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in shares of AutoZone by 35.3% during the 1st quarter. SG Americas Securities LLC now owns 3,534 shares of the company’s stock valued at $11,138,000 after buying an additional 922 shares in the last quarter. Sei Investments Co. boosted its stake in shares of AutoZone by 60.7% in the first quarter. Sei Investments Co. now owns 22,315 shares of the company’s stock worth $70,326,000 after acquiring an additional 8,427 shares during the period. Oppenheimer & Co. Inc. grew its position in shares of AutoZone by 12.9% during the first quarter. Oppenheimer & Co. Inc. now owns 3,509 shares of the company’s stock worth $11,059,000 after purchasing an additional 401 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in AutoZone during the 2nd quarter valued at approximately $2,816,000. Finally, Nomura Holdings Inc. bought a new stake in AutoZone during the 4th quarter valued at approximately $879,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on AZO shares. Guggenheim upped their price objective on shares of AutoZone from $3,225.00 to $3,350.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wedbush reissued an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a report on Thursday, September 19th. Morgan Stanley lifted their price objective on shares of AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Redburn Atlantic raised AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, UBS Group lifted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3,182.33.

View Our Latest Research Report on AZO

About AutoZone

(Get Free Report)

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.

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