Insider Selling: AutoZone (NYSE:AZO) VP Sells $21,867,000.00 in Stock

AutoZone, Inc. (NYSE:AZO) VP Richard Craig Smith sold 5,910 shares of the firm’s stock in a transaction that occurred on Friday, January 23rd. The shares were sold at an average price of $3,700.00, for a total value of $21,867,000.00. Following the completion of the sale, the vice president owned 2,627 shares in the company, valued at approximately $9,719,900. This represents a 69.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Richard Craig Smith also recently made the following trade(s):

• On Friday, January 16th, Richard Craig Smith sold 3,190 shares of AutoZone stock. The shares were sold at an average price of $3,500.00, for a total transaction of $11,165,000.00.

AutoZone Trading Down 2.1%

AutoZone stock opened at $3,702.82 on Friday. AutoZone, Inc. has a 52 week low of $3,210.72 and a 52 week high of $4,388.11. The stock has a market cap of $61.36 billion, a price-to-earnings ratio of 25.82, a PEG ratio of 1.80 and a beta of 0.42. The company’s 50-day moving average price is $3,580.39 and its two-hundred day moving average price is $3,848.81.

AutoZone (NYSE:AZO) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $31.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $32.69 by ($1.65). AutoZone had a net margin of 12.78% and a negative return on equity of 65.38%. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same quarter last year, the business earned $32.52 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. Research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

AutoZone announced that its Board of Directors has authorized a stock buyback plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Turning Point Benefit Group Inc. purchased a new position in shares of AutoZone during the 3rd quarter valued at $25,000. Raleigh Capital Management Inc. acquired a new stake in AutoZone during the third quarter valued at $26,000. Aspect Partners LLC grew its stake in AutoZone by 700.0% in the second quarter. Aspect Partners LLC now owns 8 shares of the company’s stock valued at $30,000 after purchasing an additional 7 shares in the last quarter. Global Trust Asset Management LLC increased its position in AutoZone by 600.0% in the 3rd quarter. Global Trust Asset Management LLC now owns 7 shares of the company’s stock worth $30,000 after purchasing an additional 6 shares during the last quarter. Finally, Bank of Jackson Hole Trust acquired a new position in AutoZone in the 2nd quarter worth about $33,000. 92.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on AZO shares. Evercore ISI reiterated an “outperform” rating and issued a $4,100.00 price target on shares of AutoZone in a research report on Wednesday, December 10th. Weiss Ratings restated a “hold (c+)” rating on shares of AutoZone in a research report on Monday, December 29th. Citigroup dropped their price target on AutoZone from $4,775.00 to $4,200.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Mizuho reissued a “neutral” rating and set a $3,550.00 price objective (down from $3,850.00) on shares of AutoZone in a research note on Monday, January 5th. Finally, Truist Financial decreased their target price on AutoZone from $4,499.00 to $4,076.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and an average price target of $4,285.00.

About AutoZone

AutoZone, Inc (NYSE: AZO) is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.