AutoZone, Inc. (NYSE:AZO - Get Free Report) Chairman William C. Rhodes III sold 27,500 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $3,708.93, for a total value of $101,995,575.00. Following the sale, the chairman now owns 8,546 shares in the company, valued at $31,696,515.78. The trade was a 76.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
AutoZone Stock Performance
AutoZone stock traded down $38.57 during midday trading on Friday, reaching $3,644.90. 46,203 shares of the company's stock were exchanged, compared to its average volume of 128,502. The stock's 50-day simple moving average is $3,693.02 and its 200 day simple moving average is $3,503.61. The firm has a market cap of $61.17 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 1.86 and a beta of 0.40. AutoZone, Inc. has a 52 week low of $2,792.14 and a 52 week high of $3,916.81.
AutoZone (NYSE:AZO - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts' consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $4.41 billion. During the same period in the previous year, the firm posted $36.69 earnings per share. The firm's revenue was up 5.4% compared to the same quarter last year. Research analysts forecast that AutoZone, Inc. will post 152.94 earnings per share for the current year.
Hedge Funds Weigh In On AutoZone
Institutional investors and hedge funds have recently modified their holdings of the stock. Inspire Investing LLC grew its position in shares of AutoZone by 4.9% in the first quarter. Inspire Investing LLC now owns 85 shares of the company's stock valued at $324,000 after purchasing an additional 4 shares during the last quarter. Modern Wealth Management LLC grew its stake in shares of AutoZone by 15.2% in the first quarter. Modern Wealth Management LLC now owns 121 shares of the company's stock valued at $461,000 after acquiring an additional 16 shares in the last quarter. Strs Ohio bought a new position in AutoZone during the first quarter worth about $14,389,000. Geneos Wealth Management Inc. raised its stake in AutoZone by 160.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 73 shares of the company's stock worth $278,000 after purchasing an additional 45 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of AutoZone by 0.8% during the 1st quarter. Anchor Investment Management LLC now owns 1,147 shares of the company's stock worth $4,373,000 after purchasing an additional 9 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on AZO shares. Evercore ISI set a $3,950.00 price target on shares of AutoZone in a report on Monday, May 19th. JPMorgan Chase & Co. boosted their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. UBS Group raised their price target on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wall Street Zen raised AutoZone from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $4,000.00 target price (up previously from $3,750.00) on shares of AutoZone in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $4,072.24.
Check Out Our Latest Research Report on AutoZone
About AutoZone
(
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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.
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