AutoZone, Inc. (NYSE:AZO) CEO Sells $7,600,020.00 in Stock

AutoZone, Inc. (NYSE:AZO) CEO Philip B. Daniele sold 2,000 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $3,800.01, for a total value of $7,600,020.00. Following the completion of the sale, the chief executive officer now owns 163 shares in the company, valued at $619,401.63. This represents a 92.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

AutoZone Stock Performance

Shares of NYSE AZO opened at $3,769.72 on Friday. AutoZone, Inc. has a 52-week low of $2,728.97 and a 52-week high of $3,838.00. The firm has a market capitalization of $63.26 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 1.86 and a beta of 0.71. The stock has a 50 day moving average price of $3,483.80 and a 200 day moving average price of $3,279.56.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, March 4th. The company reported $28.29 earnings per share for the quarter, missing the consensus estimate of $29.11 by ($0.82). The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. Analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Raymond James reaffirmed a “strong-buy” rating on shares of AutoZone in a report on Wednesday, March 5th. Truist Financial increased their price objective on shares of AutoZone from $3,753.00 to $3,841.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Citigroup boosted their target price on shares of AutoZone from $3,500.00 to $3,900.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Wedbush reaffirmed an “outperform” rating and issued a $3,700.00 price target on shares of AutoZone in a report on Wednesday, March 5th. Finally, Evercore ISI boosted their price objective on AutoZone from $3,525.00 to $3,700.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3,683.36.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of AutoZone by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 421,716 shares of the company’s stock worth $1,326,545,000 after purchasing an additional 7,365 shares during the period. Proficio Capital Partners LLC raised its stake in AutoZone by 482,040.2% in the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after buying an additional 419,375 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in AutoZone by 5.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company’s stock worth $1,039,421,000 after buying an additional 17,518 shares during the period. Norges Bank bought a new stake in AutoZone during the 4th quarter valued at $834,556,000. Finally, PineStone Asset Management Inc. increased its holdings in shares of AutoZone by 6.9% in the 4th quarter. PineStone Asset Management Inc. now owns 213,575 shares of the company’s stock valued at $683,867,000 after acquiring an additional 13,771 shares during the period. 92.74% of the stock is currently owned by institutional investors.

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.