AutoZone (NYSE:AZO) Stock: Insider Jamere Jackson Sells 6,900 Shares

AutoZone, Inc. (NYSE:AZO) CFO Jamere Jackson sold 6,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the completion of the sale, the chief financial officer directly owned 496 shares of the company’s stock, valued at $1,646,576.16. This represents a 93.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

AutoZone Stock Down 2.8%

Shares of AZO traded down $91.20 during mid-day trading on Friday, hitting $3,217.76. 118,917 shares of the company’s stock were exchanged, compared to its average volume of 255,327. The stock has a market cap of $51.79 billion, a price-to-earnings ratio of 21.06, a P/E/G ratio of 1.71 and a beta of 0.37. The firm has a fifty day moving average of $2,986.92 and a two-hundred day moving average of $3,256.94. AutoZone, Inc. has a twelve month low of $2,730.65 and a twelve month high of $3,996.25.

AutoZone (NYSE:AZO) last released its quarterly earnings data on Tuesday, September 22nd. The company reported $56.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $55.51. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.70 billion. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. AutoZone’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $48.71 EPS. On average, equities analysts predict that AutoZone, Inc. will post 170.30 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. bought a new position in AutoZone in the second quarter valued at about $29,000. Burkett Financial Services LLC bought a new stake in AutoZone during the 3rd quarter worth about $31,000. Heritage Family Offices LLP bought a new stake in AutoZone during the 3rd quarter worth about $31,000. Tacita Capital Inc bought a new stake in AutoZone during the 2nd quarter worth about $32,000. Finally, Asset Dedication LLC lifted its position in AutoZone by 150.0% during the 1st quarter. Asset Dedication LLC now owns 10 shares of the company’s stock valued at $34,000 after purchasing an additional 6 shares during the period. Institutional investors own 92.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AZO. Guggenheim reduced their price target on AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating for the company in a research report on Wednesday, September 23rd. UBS Group set a $3,850.00 price objective on AutoZone in a report on Wednesday, September 23rd. Bank of America initiated coverage on AutoZone in a report on Monday, October 26th. They set a “buy” rating and a $3,800.00 price objective on the stock. Citigroup cut their price objective on AutoZone from $3,700.00 to $3,450.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Finally, BMO Capital Markets reduced their target price on AutoZone from $4,000.00 to $3,500.00 and set an “outperform” rating for the company in a report on Wednesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3,674.36.

AutoZone Company Profile

AutoZone, Inc is a specialty retailer and distributor of automotive replacement parts, equipment and accessories. The company serves do-it-yourself customers, professional automotive technicians and commercial repair businesses through its retail stores, distribution network and digital platforms.

Its merchandise includes replacement batteries, brakes, filters, belts, hoses, ignition components, tools, fluids, lighting products and other maintenance items. AutoZone also offers private-label products under brands such as Duralast, as well as vehicle diagnostic services and parts delivery for commercial customers.

Founded in 1979 as Auto Shack by Pitt Hyde, the company adopted the AutoZone name in 1987.