Investors Sell Shares of AutoZone (AZO) on Strength Following Insider Selling
Investors sold shares of AutoZone, Inc. (NYSE:AZO) on strength during trading hours on Tuesday after an insider sold shares in the company. $49.26 million flowed into the stock on the tick-up and $113.86 million flowed out of the stock on the tick-down, for a money net flow of $64.60 million out of the stock. Of all equities tracked, AutoZone had the 21st highest net out-flow for the day. AutoZone traded up $2.44 for the day and closed at $711.05Specifically, insider Mark A. Finestone sold 13,500 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $711.37, for a total transaction of $9,603,495.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Charles Pleas III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $700.00, for a total transaction of $7,000,000.00. Following the transaction, the vice president now owns 14,377 shares of the company’s stock, valued at $10,063,900. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,823 shares of company stock valued at $56,687,723. 2.80% of the stock is owned by corporate insiders.
AZO has been the topic of a number of research reports. UBS reissued a “buy” rating and set a $750.00 target price (down from $810.00) on shares of AutoZone in a report on Wednesday, December 6th. Barclays boosted their target price on shares of AutoZone from $710.00 to $800.00 in a report on Thursday, December 7th. Jefferies Group reissued a “hold” rating and set a $720.00 target price on shares of AutoZone in a report on Wednesday, December 6th. Citigroup boosted their target price on shares of AutoZone to $820.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Finally, Guggenheim lowered shares of AutoZone from a “buy” rating to a “neutral” rating in a report on Wednesday, December 6th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $733.89.
The company has a current ratio of 0.93, a quick ratio of 0.14 and a debt-to-equity ratio of -3.27. The firm has a market capitalization of $19,440.00, a P/E ratio of 16.16, a P/E/G ratio of 1.33 and a beta of 0.71.
AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, December 5th. The company reported $10.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.90 by $0.10. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.54 billion. AutoZone had a net margin of 11.66% and a negative return on equity of 78.83%. AutoZone’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $9.36 earnings per share. equities research analysts forecast that AutoZone, Inc. will post 46.73 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in AutoZone by 1.7% during the second quarter. Vanguard Group Inc. now owns 1,899,758 shares of the company’s stock worth $1,083,735,000 after acquiring an additional 32,542 shares in the last quarter. FMR LLC boosted its stake in AutoZone by 6.7% during the second quarter. FMR LLC now owns 1,864,473 shares of the company’s stock worth $1,063,608,000 after acquiring an additional 117,019 shares in the last quarter. State Street Corp boosted its stake in AutoZone by 5.1% during the second quarter. State Street Corp now owns 1,363,261 shares of the company’s stock worth $777,679,000 after acquiring an additional 66,734 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in AutoZone by 27.8% during the third quarter. JPMorgan Chase & Co. now owns 1,301,355 shares of the company’s stock worth $764,272,000 after acquiring an additional 282,939 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in AutoZone by 4.4% during the third quarter. Nordea Investment Management AB now owns 1,072,553 shares of the company’s stock worth $638,287,000 after acquiring an additional 45,458 shares in the last quarter. 99.03% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This story was first published by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/12/12/investors-sell-shares-of-autozone-azo-on-strength-following-insider-selling.html.
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.
Receive News & Ratings for AutoZone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AutoZone and related companies with MarketBeat.com's FREE daily email newsletter.