AutoZone, Inc. (NYSE:AZO) CFO Sells $9,737,666.60 in Stock

AutoZone, Inc. (NYSE:AZO - Get Free Report) CFO Jamere Jackson sold 2,612 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the sale, the chief financial officer now directly owns 427 shares in the company, valued at $1,591,877.35. This trade represents a 85.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

AutoZone Stock Performance

NYSE:AZO traded up $10.15 during trading hours on Thursday, reaching $3,727.19. The stock had a trading volume of 12,334 shares, compared to its average volume of 128,961. AutoZone, Inc. has a 52 week low of $2,750.53 and a 52 week high of $3,916.81. The company has a 50 day moving average price of $3,697.68 and a two-hundred day moving average price of $3,479.05. The stock has a market capitalization of $62.55 billion, a PE ratio of 24.83, a PEG ratio of 1.86 and a beta of 0.40.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business's revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $36.69 EPS. Equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Hedge Funds Weigh In On AutoZone

Several large investors have recently modified their holdings of AZO. GAMMA Investing LLC increased its position in shares of AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after purchasing an additional 770,005 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in AutoZone by 482,040.2% during the 4th quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company's stock valued at $1,343,117,000 after acquiring an additional 419,375 shares during the period. Norges Bank purchased a new position in AutoZone during the 4th quarter valued at $834,556,000. Strategic Financial Concepts LLC purchased a new position in AutoZone during the 4th quarter valued at $471,629,000. Finally, Nuveen LLC purchased a new position in AutoZone during the 1st quarter valued at $442,530,000. Institutional investors own 92.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AZO. Evercore ISI set a $3,950.00 price objective on AutoZone in a research report on Monday, May 19th. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Raymond James reissued a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Bank of America raised AutoZone from a "neutral" rating to a "buy" rating and raised their target price for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Finally, The Goldman Sachs Group set a $3,811.00 target price on AutoZone in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $4,054.52.

AutoZone Company Profile

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.