AutoZone, Inc. (NYSE:AZO) CFO Jamere Jackson Sells 2,612 Shares

AutoZone, Inc. (NYSE:AZO) CFO Jamere Jackson sold 2,612 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $3,728.05, for a total value of $9,737,666.60. Following the transaction, the chief financial officer now directly owns 427 shares of the company’s stock, valued at $1,591,877.35. This represents a 85.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AutoZone Price Performance

AZO opened at $3,750.52 on Wednesday. AutoZone, Inc. has a fifty-two week low of $2,750.53 and a fifty-two week high of $3,916.81. The business has a 50-day moving average of $3,698.72 and a 200-day moving average of $3,477.40. The company has a market capitalization of $62.94 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 1.86 and a beta of 0.40.

AutoZone (NYSE:AZO) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $35.36 earnings per share for the quarter, missing analysts’ consensus estimates of $37.07 by ($1.71). AutoZone had a negative return on equity of 53.89% and a net margin of 14.18%. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.41 billion. During the same period last year, the business earned $36.69 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts expect that AutoZone, Inc. will post 152.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AZO has been the subject of several analyst reports. Bank of America raised AutoZone from a “neutral” rating to a “buy” rating and upped their target price for the company from $3,900.00 to $4,800.00 in a report on Wednesday, May 21st. Argus downgraded AutoZone from a “buy” rating to a “hold” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. upped their target price on AutoZone from $3,830.00 to $4,350.00 and gave the company an “overweight” rating in a report on Friday, May 23rd. Truist Financial set a $3,995.00 target price on AutoZone in a report on Friday, May 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $4,000.00 target price (up from $3,750.00) on shares of AutoZone in a report on Wednesday, May 28th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, AutoZone currently has a consensus rating of “Buy” and an average price target of $4,054.52.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AZO. Brighton Jones LLC increased its holdings in shares of AutoZone by 14.4% during the 4th quarter. Brighton Jones LLC now owns 111 shares of the company’s stock valued at $356,000 after acquiring an additional 14 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of AutoZone during the 4th quarter valued at about $10,030,000. Perigon Wealth Management LLC increased its holdings in shares of AutoZone by 11.6% during the 4th quarter. Perigon Wealth Management LLC now owns 106 shares of the company’s stock valued at $339,000 after acquiring an additional 11 shares during the last quarter. Mediolanum International Funds Ltd increased its holdings in shares of AutoZone by 50.7% during the 4th quarter. Mediolanum International Funds Ltd now owns 202 shares of the company’s stock valued at $642,000 after acquiring an additional 68 shares during the last quarter. Finally, Cibc World Market Inc. increased its holdings in shares of AutoZone by 3.2% during the 4th quarter. Cibc World Market Inc. now owns 3,897 shares of the company’s stock valued at $12,478,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 92.74% of the company’s stock.

AutoZone Company Profile

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.