Recent Insider Activity Suggests Potential Gains for AutoZone Inc. (AZO)

CHWY Stock
CHWY Stock

AutoZone Inc.’s recent filing unveils that its Sr. VP Finance and Accounting PLEAS CHARLES III unloaded Company’s shares for reported $10.7 million on Jul 11. In the deal valued at $2546.55 per share,4,200 shares were sold. As a result of this transaction, PLEAS CHARLES III now holds 3,425 shares worth roughly $ 8.71 million.

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Then, Saltiel Albert sold 2,245 shares, generating $5,612,500 in total proceeds. Upon selling the shares at $2500.00, the Sr. Vice President now owns 535 shares.

Before that, McGee Grant E. sold 2,000 shares. AutoZone Inc. shares valued at $4,892,968 were divested by the Sr. Vice President at a price of $2446.48 per share. As a result of the transaction, McGee Grant E. now holds 248 shares, worth roughly $0.63 million.

Northcoast initiated its AutoZone Inc. [AZO] rating to a Neutral in a research note published on Friday.

Price Performance Review of AZO

On Friday, AutoZone Inc. [NYSE:AZO] saw its stock jump 0.44% to $2542.39. On the same session, the stock had its day’s lowest price of $2,519.51, but rose to a high of $2,547.21. Over the last five days, the stock has gained 3.63%. AutoZone Inc. shares have risen nearly 3.09% since the year began. Nevertheless, the stocks have risen 19.97% over the past one year. While a 52-week high of $2750.00 was reached on 05/10/23, a 52-week low of $2050.21 was recorded on 05/31/23. SMA at 50 days reached $2,486.25, while 200 days put it at $2,488.98. A total of 75831.0 shares were traded, compared to the trading of 0.14 million shares in the previous session.

Levels Of Support And Resistance For AZO Stock

The 24-hour chart illustrates a support level at 2,525.53, which if violated will result in even more drops to 2,508.67. On the upside, there is a resistance level at 2,553.23. A further resistance level may holdings at 2,564.07. The Relative Strength Index (RSI) on the 14-day chart is 59.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 58.13, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 19.84%. Stochastics %K at 82.20% indicates the stock is a selling.

How much short interest is there in AutoZone Inc.?

A steep rise in short interest was recorded in AutoZone Inc. stocks on Aug 14, 2023, growing by 35060.0 shares to a total of 0.36 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 0.33 million shares. There was a rise of 9.72%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.99% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.66.

AutoZone Inc. [AZO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 1,721,387 shares, or roughly 9.48% of the outstanding AZO shares. In other words, the investor’s shares have fallen by -37,799 from its previous 13-F filing of 1759186.0. Additionally, BlackRock Fund Advisors decreased -12.91% of its stake after which the total value it holdings stand at $2,344,001,912, while Fidelity Management & Research Co reduced -9.01% of its stake to hold $2.06 billion in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 11,438 shares of AutoZone Inc., while JPMorgan Investment Management, I bought -162,843 shares. At present, Fiera Capital Corp. is holding 549,987 shares valued at $1.36 billion. Boston Partners Global Investors, owned 437,133 shares of the company at the time of its most recent 13F filing, worth $1.08 billion.

According to FactSet, AutoZone Inc.’s share price will average $2784.95 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.19 percent from its previous closing price of $2531.33. Analysts expect AutoZone Inc. stock to reach the higher price of $3020.00, while the lowest price estimate is $2340.00. However, 26 analysts have rated AZO stock as an Overweight in their predictions for 2023.


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