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

AutoZone, Inc. (NYSE:AZO - Get Free Report) CEO Philip B. Daniele sold 2,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now directly owns 163 shares of the company's stock, valued at $619,401.63. This trade represents a 92.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

AutoZone Price Performance

Shares of AutoZone stock traded down $0.59 during trading on Tuesday, reaching $3,812.19. 221,778 shares of the company traded hands, compared to its average volume of 131,035. The firm has a market capitalization of $63.98 billion, a PE ratio of 25.47, a P/E/G ratio of 1.86 and a beta of 0.71. The company has a 50 day moving average price of $3,506.05 and a 200-day moving average price of $3,290.64. AutoZone, Inc. has a 1-year low of $2,728.97 and a 1-year high of $3,842.82.

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

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Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of AutoZone from $3,875.00 to $4,025.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. The Goldman Sachs Group upgraded shares of AutoZone from a "sell" rating to a "neutral" rating and upped their price target for the stock from $3,044.00 to $3,811.00 in a report on Tuesday. Roth Capital set a $3,763.00 price objective on AutoZone in a report on Wednesday, March 5th. Raymond James reaffirmed a "strong-buy" rating on shares of AutoZone in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lifted their price target on AutoZone from $3,775.00 to $3,830.00 and gave the company an "overweight" rating in a research note on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $3,724.00.

Institutional Investors Weigh In On AutoZone

Hedge funds have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC increased its stake in AutoZone by 5.5% during the 3rd quarter. Kingsview Wealth Management LLC now owns 154 shares of the company's stock valued at $484,000 after purchasing an additional 8 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of AutoZone during the third quarter valued at about $712,000. Independent Advisor Alliance increased its position in shares of AutoZone by 11.1% during the third quarter. Independent Advisor Alliance now owns 271 shares of the company's stock worth $854,000 after acquiring an additional 27 shares in the last quarter. Qsemble Capital Management LP acquired a new stake in shares of AutoZone in the 3rd quarter worth about $249,000. Finally, Dai ichi Life Insurance Company Ltd lifted its position in AutoZone by 232.6% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 715 shares of the company's stock valued at $2,252,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 92.74% of the company's stock.

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.