AutoZone, Inc. (NYSE:AZO) Chairman Sells $40,392,950.00 in Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 13,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were 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 $43,055,777.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

AutoZone Trading Up 0.7 %

Shares of AZO opened at $3,129.78 on Monday. AutoZone, Inc. has a 1 year low of $2,375.35 and a 1 year high of $3,256.37. The stock has a market cap of $53.47 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.59 and a beta of 0.70. The stock’s 50-day moving average price is $3,130.48 and its two-hundred day moving average price is $3,006.79.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $53.31 by ($5.20). AutoZone had a negative return on equity of 52.99% and a net margin of 14.40%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.25 billion. During the same quarter last year, the business posted $46.46 EPS. AutoZone’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that AutoZone, Inc. will post 157.99 EPS for the current year.

Institutional Investors Weigh In On AutoZone

A number of hedge funds have recently modified their holdings of AZO. Rise Advisors LLC acquired a new stake in shares of AutoZone during the first quarter worth about $32,000. Riverview Trust Co acquired a new stake in AutoZone in the 1st quarter valued at approximately $41,000. Meeder Asset Management Inc. raised its position in AutoZone by 50.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after buying an additional 5 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. acquired a new stake in AutoZone in the 2nd quarter valued at approximately $50,000. Finally, ORG Partners LLC acquired a new stake in AutoZone in the 2nd quarter valued at approximately $50,000. Institutional investors and hedge funds own 92.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho upped their target price on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a research note on Wednesday, September 25th. Redburn Atlantic upgraded AutoZone to a “strong-buy” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. DA Davidson reiterated a “neutral” rating and set a $3,025.00 price objective on shares of AutoZone in a research note on Monday, September 30th. Finally, StockNews.com lowered AutoZone from a “buy” rating to a “hold” rating in a research note on Saturday, September 21st. Three research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $3,182.33.

About AutoZone

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.