Richard Craig Smith Sells 2,850 Shares of AutoZone, Inc. (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO - Get Free Report) VP Richard Craig Smith sold 2,850 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $3,610.00, for a total value of $10,288,500.00. Following the completion of the sale, the vice president now directly owns 2,924 shares in the company, valued at $10,555,640. This trade represents a 49.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

AutoZone Stock Performance

Shares of AZO stock traded up $17.67 during trading hours on Tuesday, hitting $3,675.49. 135,240 shares of the company were exchanged, compared to its average volume of 126,328. The company has a 50 day simple moving average of $3,441.73 and a two-hundred day simple moving average of $3,263.12. The firm has a market cap of $61.68 billion, a P/E ratio of 24.56, a P/E/G ratio of 1.86 and a beta of 0.71. AutoZone, Inc. has a fifty-two week low of $2,728.97 and a fifty-two week high of $3,704.43.

AutoZone (NYSE:AZO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $28.29 EPS for the quarter, missing analysts' consensus estimates of $29.11 by ($0.82). The company had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.98 billion. AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. As a group, sell-side analysts expect that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

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Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AZO. Headlands Technologies LLC bought a new stake in shares of AutoZone during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC bought a new stake in AutoZone during the 4th quarter valued at $32,000. Harbour Investments Inc. raised its holdings in AutoZone by 42.9% during the fourth quarter. Harbour Investments Inc. now owns 10 shares of the company's stock worth $32,000 after buying an additional 3 shares during the last quarter. Minot DeBlois Advisors LLC bought a new position in shares of AutoZone in the fourth quarter valued at $45,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of AutoZone during the third quarter valued at about $47,000. 92.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wedbush restated an "outperform" rating and issued a $3,700.00 target price on shares of AutoZone in a research report on Wednesday, March 5th. Guggenheim boosted their price objective on AutoZone from $3,750.00 to $3,850.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. DA Davidson upgraded AutoZone from a "neutral" rating to a "buy" rating and increased their target price for the company from $3,500.00 to $4,192.00 in a research report on Friday. Truist Financial upped their price objective on AutoZone from $3,753.00 to $3,841.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Roth Mkm lifted their target price on shares of AutoZone from $3,634.00 to $3,763.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $3,683.36.

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.