Investors Sell Shares of AutoZone Inc. (AZO) on Strength (AZO)
Investors sold shares of AutoZone Inc. (NYSE:AZO) on strength during trading on Wednesday. $110.78 million flowed into the stock on the tick-up and $135.89 million flowed out of the stock on the tick-down, for a money net flow of $25.11 million out of the stock. Of all equities tracked, AutoZone had the 0th highest net out-flow for the day. AutoZone traded up $7.39 for the day and closed at $751.45
A number of analysts have recently issued reports on AZO shares. Morgan Stanley reiterated an “equal weight” rating and issued a $820.00 price objective on shares of AutoZone in a report on Thursday, May 26th. Jefferies Group started coverage on shares of AutoZone in a report on Thursday, May 26th. They issued a “hold” rating on the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of AutoZone in a report on Thursday, May 26th. BTIG Research began coverage on shares of AutoZone in a report on Wednesday, June 1st. They set a “buy” rating and a $900.00 target price on the stock. Finally, Argus restated a “buy” rating and set a $875.00 target price on shares of AutoZone in a report on Sunday, July 10th. Eleven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. AutoZone presently has a consensus rating of “Buy” and an average price target of $843.39.
The stock has a market capitalization of $21.97 billion, a price-to-earnings ratio of 19.09 and a beta of 0.42. The firm has a 50 day moving average of $766.72 and a 200-day moving average of $777.09.
In related news, VP Albert Saltiel sold 1,650 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $807.52, for a total value of $1,332,408.00. Following the completion of the sale, the vice president now directly owns 1,734 shares of the company’s stock, valued at approximately $1,400,239.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Andrew Mckenna sold 3,000 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $800.25, for a total value of $2,400,750.00. Following the completion of the sale, the director now directly owns 7,597 shares of the company’s stock, valued at $6,079,499.25. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Invictus RG raised its stake in AutoZone by 489.7% in the second quarter. Invictus RG now owns 171 shares of the company’s stock worth $136,000 after buying an additional 142 shares during the last quarter. Global X Management Co. LLC raised its stake in AutoZone by 89.1% in the second quarter. Global X Management Co. LLC now owns 174 shares of the company’s stock worth $138,000 after buying an additional 82 shares during the last quarter. First Personal Financial Services raised its stake in AutoZone by 126.3% in the second quarter. First Personal Financial Services now owns 215 shares of the company’s stock worth $171,000 after buying an additional 120 shares during the last quarter. Pennsylvania Trust Co bought a new stake in AutoZone during the second quarter worth approximately $200,000. Finally, Rehmann Capital Advisory Group bought a new stake in AutoZone during the first quarter worth approximately $207,000. 95.55% of the stock is owned by institutional investors and hedge funds.
AutoZone Company Profile
AutoZone, Inc is a retailer and distributor of automotive replacement parts and accessories in the United States. The Company’s operating segments include Auto Parts Locations and Other. The Auto Parts Locations segment comprises Domestic Auto Parts, Mexico, Brazil and Interamerican Motor Corporation (IMC).
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