AutoZone, Inc. (AZO) Insider William R. Hackney Sells 5,700 Shares

AutoZone, Inc. (NYSE:AZO) insider William R. Hackney sold 5,700 shares of the stock in a transaction dated Friday, December 7th. The stock was sold at an average price of $870.00, for a total transaction of $4,959,000.00. Following the transaction, the insider now directly owns 3,998 shares in the company, valued at approximately $3,478,260. The transaction was disclosed in a filing with the SEC, which is available through this link.

NYSE AZO traded up $1.48 during trading hours on Friday, hitting $870.16. The company’s stock had a trading volume of 394,567 shares, compared to its average volume of 363,585. AutoZone, Inc. has a 52 week low of $590.76 and a 52 week high of $894.37. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.22 and a beta of 0.89.

AutoZone (NYSE:AZO) last announced its quarterly earnings results on Tuesday, December 4th. The company reported $13.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $12.21 by $1.26. AutoZone had a net margin of 12.49% and a negative return on equity of 102.31%. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the firm earned $10.00 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities analysts predict that AutoZone, Inc. will post 59.05 EPS for the current fiscal year.

AutoZone declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 26th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

A number of equities analysts have recently issued reports on AZO shares. Bank of America cut shares of AutoZone from a “buy” rating to a “neutral” rating and set a $830.00 price objective on the stock. in a research report on Monday, September 17th. Citigroup increased their price objective on shares of AutoZone from $765.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Royal Bank of Canada cut their price objective on shares of AutoZone from $779.00 to $775.00 and set a “sector perform” rating on the stock in a research report on Wednesday, September 19th. Wells Fargo & Co increased their price objective on shares of AutoZone from $800.00 to $850.00 and gave the stock a “positive” rating in a research report on Thursday, September 13th. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their price objective on shares of AutoZone from $790.00 to $810.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. AutoZone presently has an average rating of “Buy” and an average target price of $866.74.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Massey Quick Simon & CO. LLC increased its stake in AutoZone by 222.4% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 187 shares of the company’s stock valued at $145,000 after buying an additional 129 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in AutoZone by 197.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 235 shares of the company’s stock valued at $158,000 after buying an additional 156 shares during the last quarter. ELM Advisors LLC purchased a new stake in AutoZone in the 3rd quarter valued at about $163,000. Flagship Harbor Advisors LLC purchased a new stake in AutoZone in the 2nd quarter valued at about $173,000. Finally, Paragon Capital Management Ltd purchased a new stake in AutoZone in the 2nd quarter valued at about $201,000. 92.10% of the stock is currently owned by institutional investors and hedge funds.

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AutoZone Company Profile

AutoZone Inc retails and distributes automotive replacement parts and accessories. The company offers 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. Its products include A/C compressors, batteries and accessories, bearings, belts and hoses, calipers, carburetors, chassis, clutches, CV axles, engines, fuel pumps, fuses, ignition and lighting products, mufflers, radiators, starters and alternators, thermostats, and water pumps.

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Insider Buying and Selling by Quarter for AutoZone (NYSE:AZO)

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