Insider Selling: AutoZone (NYSE:AZO) VP Sells $11,165,000.00 in Stock

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 3,190 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $3,500.00, for a total transaction of $11,165,000.00. Following the sale, the vice president directly owned 2,627 shares in the company, valued at $9,194,500. This represents a 54.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

AutoZone Stock Performance

Shares of AZO stock opened at $3,692.15 on Friday. AutoZone, Inc. has a fifty-two week low of $3,210.72 and a fifty-two week high of $4,388.11. The company has a 50 day moving average price of $3,588.83 and a 200 day moving average price of $3,848.33. The stock has a market capitalization of $61.18 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 1.75 and a beta of 0.42.

AutoZone (NYSE:AZO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $31.04 EPS for the quarter, missing the consensus estimate of $32.69 by ($1.65). The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.64 billion. AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business earned $32.52 EPS. On average, research analysts forecast that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

AutoZone declared that its board has initiated a share buyback plan on Wednesday, October 8th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on AutoZone from $4,262.00 to $4,234.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Robert W. Baird upgraded shares of AutoZone to a “strong-buy” rating in a research note on Thursday, December 4th. BMO Capital Markets decreased their price objective on shares of AutoZone from $4,600.00 to $4,400.00 and set an “outperform” rating for the company in a research report on Wednesday, December 10th. Oppenheimer lowered their target price on shares of AutoZone from $4,600.00 to $4,150.00 and set an “outperform” rating for the company in a research note on Friday, January 9th. Finally, Truist Financial dropped their target price on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4,285.00.

Institutional Investors Weigh In On AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Turning Point Benefit Group Inc. acquired a new stake in shares of AutoZone during the third quarter worth about $25,000. Raleigh Capital Management Inc. purchased a new position in AutoZone during the 3rd quarter worth approximately $26,000. Aspect Partners LLC grew its stake in AutoZone by 700.0% during the 2nd quarter. Aspect Partners LLC now owns 8 shares of the company’s stock worth $30,000 after buying an additional 7 shares during the last quarter. Global Trust Asset Management LLC increased its position in AutoZone by 600.0% during the third quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after buying an additional 6 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new stake in AutoZone in the second quarter valued at approximately $33,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.