Traders Buy AutoZone (AZO) on Weakness Following Insider Selling
Investors bought shares of AutoZone, Inc. (NYSE:AZO) on weakness during trading on Tuesday after an insider sold shares in the company. $74.94 million flowed into the stock on the tick-up and $56.23 million flowed out of the stock on the tick-down, for a money net flow of $18.71 million into the stock. Of all stocks tracked, AutoZone had the 29th highest net in-flow for the day. AutoZone traded down ($2.33) for the day and closed at $786.37Specifically, insider James C. Griffith sold 3,623 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $698.17, for a total transaction of $2,529,469.91. Following the completion of the sale, the insider now directly owns 2,016 shares in the company, valued at $1,407,510.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Charles Pleas III sold 10,000 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $700.00, for a total value of $7,000,000.00. Following the sale, the vice president now owns 14,377 shares of the company’s stock, valued at $10,063,900. The disclosure for this sale can be found here. Insiders sold 96,710 shares of company stock worth $69,098,826 over the last three months. 2.80% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on the company. Stephens set a $840.00 target price on AutoZone and gave the company a “hold” rating in a research note on Tuesday, January 16th. Credit Suisse Group set a $790.00 target price on AutoZone and gave the company a “hold” rating in a research note on Thursday, January 4th. Barclays raised their target price on AutoZone from $710.00 to $800.00 in a research note on Thursday, December 7th. Deutsche Bank raised their target price on AutoZone from $625.00 to $700.00 in a research note on Thursday, December 7th. Finally, Jefferies Group restated a “hold” rating and set a $720.00 target price on shares of AutoZone in a research note on Wednesday, December 6th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $734.56.
The stock has a market capitalization of $21,510.00, a P/E ratio of 17.51, a P/E/G ratio of 1.26 and a beta of 0.71. The company has a quick ratio of 0.14, a current ratio of 0.93 and a debt-to-equity ratio of -3.27.
A number of large investors have recently bought and sold shares of the stock. Los Angeles Capital Management & Equity Research Inc. acquired a new position in AutoZone in the second quarter valued at approximately $329,000. Profund Advisors LLC raised its holdings in shares of AutoZone by 27.2% during the second quarter. Profund Advisors LLC now owns 1,016 shares of the company’s stock valued at $580,000 after buying an additional 217 shares during the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of AutoZone by 4.0% during the second quarter. Thrivent Financial For Lutherans now owns 1,165 shares of the company’s stock valued at $665,000 after buying an additional 45 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of AutoZone by 10.8% during the second quarter. Mutual of America Capital Management LLC now owns 4,996 shares of the company’s stock valued at $2,850,000 after buying an additional 488 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of AutoZone by 5.1% during the second quarter. Van ECK Associates Corp now owns 2,656 shares of the company’s stock valued at $1,515,000 after buying an additional 130 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.
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AutoZone Company Profile
Autozone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company operates through the Auto Parts Locations segment. The Auto Parts Locations segment is a retailer and distributor of automotive parts and accessories. As of August 27, 2016, the Company operated through 5,814 locations in the United States, Puerto Rico, Mexico and Brazil.
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