AutoZone, Inc. (AZO) Chairman Sells $18,598,760.00 in Stock
AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 26,500 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $701.84, for a total transaction of $18,598,760.00. Following the sale, the chairman now directly owns 11,464 shares of the company’s stock, valued at $8,045,893.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of AutoZone, Inc. (NYSE AZO) opened at $721.89 on Friday. AutoZone, Inc. has a 52-week low of $491.13 and a 52-week high of $811.59. The company has a debt-to-equity ratio of -3.27, a current ratio of 0.93 and a quick ratio of 0.15. The stock has a market cap of $19,850.00, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.29 and a beta of 0.71.
AutoZone (NYSE:AZO) last released its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.90 by $0.10. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.54 billion. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $9.36 earnings per share. equities analysts predict that AutoZone, Inc. will post 46.78 earnings per share for the current fiscal year.
Several research firms have recently commented on AZO. Barclays boosted their target price on shares of AutoZone from $710.00 to $800.00 in a research report on Thursday. Deutsche Bank boosted their target price on shares of AutoZone from $625.00 to $700.00 in a research report on Thursday. Jefferies Group reissued a “hold” rating and set a $720.00 target price on shares of AutoZone in a research report on Wednesday. Royal Bank Of Canada boosted their target price on shares of AutoZone and gave the stock a “sector perform” rating in a research report on Wednesday. Finally, UBS reaffirmed a “buy” rating and issued a $750.00 price objective (down from $810.00) on shares of AutoZone in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. AutoZone presently has an average rating of “Hold” and an average target price of $733.89.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AXA boosted its stake in AutoZone by 0.8% in the third quarter. AXA now owns 38,237 shares of the company’s stock valued at $22,755,000 after acquiring an additional 300 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in AutoZone by 0.3% in the third quarter. Burgundy Asset Management Ltd. now owns 592,020 shares of the company’s stock valued at $352,317,000 after acquiring an additional 1,888 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in AutoZone by 3.3% in the third quarter. Public Employees Retirement System of Ohio now owns 45,781 shares of the company’s stock valued at $27,245,000 after acquiring an additional 1,483 shares during the last quarter. Gyroscope Capital Management Group LLC boosted its stake in AutoZone by 31.6% in the third quarter. Gyroscope Capital Management Group LLC now owns 537 shares of the company’s stock valued at $320,000 after acquiring an additional 129 shares during the last quarter. Finally, IFM Investors Pty Ltd purchased a new position in AutoZone in the third quarter valued at about $503,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.
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AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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