K. Michelle Borninkhof Sells 300 Shares of AutoZone (NYSE:AZO) Stock

AutoZone, Inc. (NYSE:AZO) SVP K. Michelle Borninkhof sold 300 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $3,775.00, for a total transaction of $1,132,500.00. Following the transaction, the senior vice president directly owned 416 shares of the company’s stock, valued at approximately $1,570,400. This trade represents a 41.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AutoZone Price Performance

Shares of AutoZone stock opened at $3,708.78 on Friday. The firm has a fifty day moving average price of $4,113.34 and a 200 day moving average price of $3,881.44. AutoZone, Inc. has a 1 year low of $2,980.10 and a 1 year high of $4,388.11. The stock has a market cap of $61.68 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 1.75 and a beta of 0.40.

AutoZone (NYSE:AZO) last issued its earnings results on Tuesday, September 23rd. The company reported $48.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $50.52 by ($1.81). AutoZone had a negative return on equity of 60.49% and a net margin of 13.19%.The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the business earned $51.58 EPS. The company’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts expect that AutoZone, Inc. will post 152.94 EPS for the current year.

AutoZone declared that its board has authorized a share repurchase plan on Wednesday, October 8th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AZO. Jefferies Financial Group lifted their price objective on shares of AutoZone from $4,255.00 to $4,750.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Morgan Stanley lifted their price objective on shares of AutoZone from $4,000.00 to $4,700.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. UBS Group cut their price objective on shares of AutoZone from $4,925.00 to $4,800.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Roth Capital reaffirmed a “buy” rating and issued a $4,750.00 price objective (down previously from $4,800.00) on shares of AutoZone in a report on Thursday, September 25th. Finally, BNP Paribas Exane lifted their price objective on shares of AutoZone from $4,155.00 to $4,811.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, AutoZone presently has a consensus rating of “Moderate Buy” and a consensus target price of $4,544.68.

Hedge Funds Weigh In On AutoZone

A number of institutional investors and hedge funds have recently bought and sold shares of AZO. Brighton Jones LLC boosted its position in AutoZone by 14.4% during the fourth quarter. Brighton Jones LLC now owns 111 shares of the company’s stock worth $356,000 after acquiring an additional 14 shares during the last quarter. GAMMA Investing LLC boosted its position in AutoZone by 14.1% during the first quarter. GAMMA Investing LLC now owns 202 shares of the company’s stock worth $770,000 after acquiring an additional 25 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in AutoZone by 10.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,808 shares of the company’s stock worth $10,589,000 after acquiring an additional 274 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in AutoZone by 6.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,145 shares of the company’s stock worth $31,059,000 after acquiring an additional 496 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in AutoZone by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 14 shares of the company’s stock worth $53,000 after acquiring an additional 7 shares during the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

About AutoZone

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.