William C. Rhodes III Sells 6,700 Shares of AutoZone, Inc. (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) Chairman William C. Rhodes III sold 6,700 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $3,190.22, for a total transaction of $21,374,474.00. Following the completion of the sale, the chairman now directly owns 15,357 shares of the company’s stock, valued at $48,992,208.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

AutoZone Stock Up 0.0 %

AZO stock opened at $3,192.79 on Thursday. AutoZone, Inc. has a 52 week low of $2,277.88 and a 52 week high of $3,256.37. The company has a fifty day simple moving average of $2,902.37 and a two-hundred day simple moving average of $2,695.82. The firm has a market capitalization of $55.24 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.70.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, February 27th. The company reported $28.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $26.08 by $2.81. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $4.32 billion. AutoZone had a net margin of 14.70% and a negative return on equity of 56.06%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business earned $24.64 EPS. As a group, analysts anticipate that AutoZone, Inc. will post 151.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stephens increased their price objective on shares of AutoZone from $3,000.00 to $3,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 6th. Morgan Stanley upped their target price on shares of AutoZone from $2,900.00 to $3,100.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Truist Financial upped their target price on shares of AutoZone from $3,027.00 to $3,363.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. UBS Group upped their target price on shares of AutoZone from $3,100.00 to $3,425.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Raymond James upgraded shares of AutoZone from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $2,850.00 to $3,100.00 in a research report on Wednesday, December 6th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3,080.72.

Institutional Investors Weigh In On AutoZone

Institutional investors have recently made changes to their positions in the company. Snowden Capital Advisors LLC lifted its holdings in shares of AutoZone by 7.4% in the 2nd quarter. Snowden Capital Advisors LLC now owns 714 shares of the company’s stock worth $1,780,000 after acquiring an additional 49 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of AutoZone by 42,900.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 430 shares of the company’s stock worth $1,112,000 after acquiring an additional 429 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of AutoZone in the 3rd quarter worth about $51,000. Canada Pension Plan Investment Board lifted its holdings in shares of AutoZone by 4.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 76,379 shares of the company’s stock worth $194,002,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in AutoZone by 196.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 51,460 shares of the company’s stock worth $133,055,000 after buying an additional 34,092 shares during the period. Institutional investors 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.