AutoZone, Inc. SVP Bailey L. Childress Sells 160 Shares

On March 5th, Bailey L. Childress, the Senior Vice President of AutoZone, Inc. (NYSE:AZO), completed a transaction involving the sale of 160 shares of the company's stock. The shares were sold at an average price of $3,550.00, amounting to a total transaction value of $568,000.00. Following the sale, Childress retains ownership of just 50 shares in AutoZone, which are now valued at around $177,500. This sale indicates that their ownership has decreased by 76.19%.

AutoZone Stock Performance

Despite the recent stock sale, AutoZone shares are on the rise, having gained 0.1% to reach $3,620.28 on the following Friday. The trading volume for the day was 198,834 shares, significantly higher than the average of 115,171 shares. Over the past year, AutoZone's stock has seen a low of $2,728.97 and a high of $3,636.96. The company currently boasts a market capitalization of $60.76 billion with a price-to-earnings (P/E) ratio of 24.19, a P/E/G (price/earnings to growth) ratio of 1.86, and a beta of 0.71. The stock's 50-day moving average stands at $3,358.39, and the 200-day moving average is $3,226.46.

Recent Earnings Results

AutoZone published its latest earnings report on March 4th, where it revealed earnings per share (EPS) of $28.29 for the quarter. This figure fell short of analysts' expectations of $29.11, marking a miss of $0.82. Additionally, the company reported a negative return on equity of 53.89% and a net margin of 14.18%. Revenue for the quarter was recorded at $3.95 billion, while analysts had predicted it would reach $3.98 billion. Looking ahead, analysts forecast the company to achieve an average of 152.94 EPS for the current fiscal year.

Analysts' Outlook on AutoZone

A variety of financial analysts have recently updated their ratings and price targets for AutoZone. Wells Fargo & Company raised its target price for the stock from $3,750.00 to $3,850.00, assigning it an "overweight" rating. In a similar vein, Citigroup lifted their price target from $3,500.00 to $3,900.00 and categorized the shares as a "buy". Truist Financial also adjusted their price target to $3,841.00, reiterating a "buy" rating. Barclays raised its target from $3,024.00 to $3,585.00, while UBS Group increased their price objective from $3,875.00 to $4,025.00, maintaining a "buy" stance on the company. Presently, one analyst rates AutoZone as a "sell", while five suggest holding the stock. Fifteen experts recommend buying it, and four rate it as a strong buy, leading to a consensus rating of "Moderate Buy" with an average target price of $3,646.62.

Institutional Investments in AutoZone

Recent institutional trading activity reflects significant shifts in AutoZone's shareholder landscape. For instance, Proficio Capital Partners LLC dramatically increased its stake in AutoZone by 482,040.2% during the fourth quarter, owning now 419,462 shares valued at over $1.34 billion. Similarly, Norges Bank has acquired a new position in the company amounting to approximately $834.56 million. Additionally, several other financial entities, including Strategic Financial Concepts LLC and Wealthfront Advisers LLC, have also established new stakes in AutoZone. Remarkably, institutional investors currently hold 92.74% of AutoZone shares.

Company Overview

Founded in the United States, AutoZone, Inc. specializes in retailing and distributing automotive replacement parts and accessories. The company operates not only in the domestic market but also in Mexico and Brazil, offering a comprehensive selection of products for cars, SUVs, vans, and light trucks, which includes both new and remanufactured automotive hard parts, along with various maintenance items and accessories.

AutoZone, Stock, Transaction