Earl Graves Jr Sells 50 Shares of AutoZone (NYSE:AZO) Stock

Key Points

• Earl Graves Jr. sold 50 shares of AutoZone on April 10 at an average price of $3,478.72 for $173,936, trimming his holdings by 1.02% to 4,837 shares (about $16.83M); the trade was disclosed in an SEC filing.
• AutoZone's latest quarter reported EPS of $27.63 (beat by $0.04) while revenue of $4.27B missed estimates, with revenue up 8.2% YoY, a 12.47% net margin and a negative ROE of 72.31%.
• Analyst and institutional backdrop: the stock has a consensus "Moderate Buy" with an average target of $4,312.13, and institutional ownership is very high at 92.74% with large positions added by investors like Norges Bank.

AutoZone, Inc. (NYSE:AZO - Get Free Report) Director Earl Graves, Jr. sold 50 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3,478.72, for a total transaction of $173,936.00. Following the completion of the sale, the director directly owned 4,837 shares in the company, valued at approximately $16,826,568.64. This trade represents a 1.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

AutoZone Price Performance

AutoZone stock traded down $2.31 during trading hours on Tuesday, reaching $3,512.16. The stock had a trading volume of 189,624 shares, compared to its average volume of 157,102. The stock has a market cap of $57.87 billion, a PE ratio of 24.61, a PEG ratio of 1.75 and a beta of 0.41. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The company has a fifty day simple moving average of $3,584.61 and a 200-day simple moving average of $3,680.44.

AutoZone (NYSE:AZO - Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $27.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $27.59 by $0.04. The business had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.31 billion. AutoZone had a net margin of 12.47% and a negative return on equity of 72.31%. The company's revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $28.29 EPS. Research analysts predict that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of AutoZone in a research note on Monday, December 29th. Citigroup lifted their target price on shares of AutoZone from $4,200.00 to $4,300.00 and gave the company a "buy" rating in a research note on Wednesday, March 4th. BMO Capital Markets cut their target price on shares of AutoZone from $4,400.00 to $4,300.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. Mizuho lifted their target price on shares of AutoZone from $3,550.00 to $3,600.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Finally, Robert W. Baird lowered shares of AutoZone from an "outperform" rating to a "neutral" rating and set a $3,900.00 target price on the stock. in a research note on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $4,312.13.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AZO. Norges Bank purchased a new position in AutoZone during the 4th quarter valued at about $939,205,000. Vontobel Holding Ltd. raised its holdings in AutoZone by 277.3% in the third quarter. Vontobel Holding Ltd. now owns 102,567 shares of the company's stock worth $440,037,000 after buying an additional 75,382 shares during the last quarter. Morgan Stanley raised its holdings in AutoZone by 17.8% in the fourth quarter. Morgan Stanley now owns 492,794 shares of the company's stock worth $1,671,323,000 after buying an additional 74,555 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in AutoZone by 387.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,792 shares of the company's stock worth $263,832,000 after buying an additional 61,821 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in AutoZone by 39.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 176,986 shares of the company's stock worth $584,730,000 after buying an additional 50,071 shares during the last quarter. 92.74% of the stock is owned by hedge funds and other institutional investors.

AutoZone Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.