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

AutoZone, Inc. (NYSE:AZO) CFO Jamere Jackson sold 6,900 shares of the stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the transaction, the chief financial officer owned 496 shares in the company, valued at approximately $1,646,576.16. This trade represents a 93.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

AutoZone Stock Down 2.8%

NYSE:AZO opened at $3,217.76 on Friday. The stock’s 50-day moving average price is $2,992.64 and its 200-day moving average price is $3,255.16. The stock has a market capitalization of $51.77 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.68 and a beta of 0.37. AutoZone, Inc. has a 52 week low of $2,730.65 and a 52 week high of $3,996.25.

AutoZone (NYSE:AZO) last released its earnings results on Tuesday, September 22nd. The company reported $56.05 EPS for the quarter, topping the consensus estimate of $0.54 by $55.51. AutoZone had a net margin of 12.65% and a negative return on equity of 90.08%. The company had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter last year, the business earned $48.71 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect that AutoZone, Inc. will post 170.30 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AZO. DA Davidson reduced their target price on AutoZone from $3,750.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, September 23rd. Guggenheim lowered their price objective on shares of AutoZone from $4,000.00 to $3,750.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Morgan Stanley cut shares of AutoZone from an “overweight” rating to a “market perform” rating in a report on Tuesday, September 29th. JPMorgan Chase & Co. dropped their price objective on shares of AutoZone from $3,850.00 to $3,700.00 and set an “overweight” rating for the company in a report on Monday, September 28th. Finally, Wells Fargo & Company lowered their price target on shares of AutoZone from $4,150.00 to $3,500.00 and set an “overweight” rating on the stock in a research note on Thursday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3,674.36.

Institutional Investors Weigh In On AutoZone

Several hedge funds have recently made changes to their positions in AZO. Assenagon Asset Management S.A. grew its position in AutoZone by 42,984.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,537,614 shares of the company’s stock valued at $29,821,658,000 after acquiring an additional 10,513,156 shares during the last quarter. BlackRock Inc. purchased a new stake in AutoZone during the second quarter worth $3,938,566,000. Sound Income Strategies LLC grew its stake in AutoZone by 646,568.6% during the third quarter. Sound Income Strategies LLC now owns 659,602 shares of the company’s stock worth $1,866,687,000 after buying an additional 659,500 shares during the period. Howard Capital Management LLC grew its stake in AutoZone by 79,236.8% during the 3rd quarter. Howard Capital Management LLC now owns 385,577 shares of the company’s stock worth $1,091,191,000 after buying an additional 385,091 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of AutoZone by 247,417.8% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 249,993 shares of the company’s stock valued at $798,963,000 after purchasing an additional 249,892 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors.

About AutoZone

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores.

Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.