AutoZone, Inc. (NYSE:AZO) SVP Sells $2,697,847.50 in Stock

AutoZone, Inc. (NYSE:AZO) SVP K. Michelle Borninkhof sold 750 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the transaction, the senior vice president now directly owns 406 shares of the company’s stock, valued at approximately $1,460,434.78. The trade was a 64.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

AutoZone Price Performance

Shares of AZO stock opened at $3,485.54 on Thursday. The company has a fifty day moving average price of $3,696.27 and a two-hundred day moving average price of $3,529.06. AutoZone, Inc. has a one year low of $2,801.49 and a one year high of $3,916.81. The stock has a market cap of $58.49 billion, a P/E ratio of 23.59, a P/E/G ratio of 2.14 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the company posted $36.69 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that AutoZone, Inc. will post 152.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of research reports. Truist Financial set a $3,995.00 target price on AutoZone in a research note on Friday, May 23rd. JPMorgan Chase & Co. raised their price objective on shares of AutoZone from $3,830.00 to $4,350.00 and gave the stock an “overweight” rating in a report on Friday, May 23rd. Mizuho upped their target price on shares of AutoZone from $3,600.00 to $3,740.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 5th. Bank of America upgraded AutoZone from a “neutral” rating to a “buy” rating and increased their target price for the stock from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Finally, Guggenheim boosted their price target on AutoZone from $3,850.00 to $4,100.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, AutoZone has a consensus rating of “Buy” and an average price target of $4,072.24.

Hedge Funds Weigh In On AutoZone

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of AutoZone by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company’s stock worth $6,709,967,000 after acquiring an additional 13,643 shares during the period. JPMorgan Chase & Co. lifted its holdings in AutoZone by 7.5% during the 1st quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company’s stock valued at $3,570,296,000 after purchasing an additional 65,368 shares during the last quarter. GAMMA Investing LLC lifted its holdings in AutoZone by 435,031.1% during the 1st quarter. GAMMA Investing LLC now owns 770,182 shares of the company’s stock valued at $2,936,535,000 after purchasing an additional 770,005 shares during the last quarter. Proficio Capital Partners LLC boosted its position in AutoZone by 482,040.2% during the fourth quarter. Proficio Capital Partners LLC now owns 419,462 shares of the company’s stock worth $1,343,117,000 after purchasing an additional 419,375 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of AutoZone by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 349,317 shares of the company’s stock valued at $1,331,870,000 after purchasing an additional 24,701 shares during 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.