AutoZone, Inc. (NYSE:AZO) Stake Trimmed by New South Capital Management Inc.

New South Capital Management Inc. lessened its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,991 shares of the company's stock after selling 979 shares during the quarter. AutoZone comprises 7.1% of New South Capital Management Inc.'s portfolio, making the stock its 2nd biggest holding. New South Capital Management Inc. owned approximately 0.33% of AutoZone worth $173,224,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Mather Group LLC. grew its position in AutoZone by 1.8% in the 2nd quarter. Mather Group LLC. now owns 224 shares of the company's stock valued at $706,000 after acquiring an additional 4 shares during the last quarter. Conning Inc. grew its position in shares of AutoZone by 4.3% during the 2nd quarter. Conning Inc. now owns 98 shares of the company's stock worth $290,000 after buying an additional 4 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of AutoZone by 14.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 32 shares of the company's stock valued at $95,000 after buying an additional 4 shares during the period. Brighton Jones LLC raised its holdings in shares of AutoZone by 4.1% in the second quarter. Brighton Jones LLC now owns 101 shares of the company's stock valued at $299,000 after acquiring an additional 4 shares in the last quarter. Finally, Fidelis Capital Partners LLC grew its holdings in AutoZone by 2.6% during the 2nd quarter. Fidelis Capital Partners LLC now owns 159 shares of the company's stock worth $490,000 after acquiring an additional 4 shares in the last quarter. Institutional investors own 92.74% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of AutoZone from a "buy" rating to a "sell" rating and lowered their price target for the stock from $3,205.00 to $2,917.00 in a research report on Monday, October 14th. UBS Group lifted their price target on AutoZone from $3,340.00 to $3,500.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Morgan Stanley upped their price objective on AutoZone from $3,038.00 to $3,125.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 25th. Roth Capital upgraded shares of AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. Finally, BNP Paribas raised shares of AutoZone to a "strong-buy" rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $3,202.71.

Insider Buying and Selling at AutoZone

In other news, Chairman William C. Rhodes III sold 13,000 shares of the firm's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the transaction, the chairman now owns 13,857 shares of the company's stock, valued at approximately $43,055,777.55. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other AutoZone news, VP John Scott Murphy sold 1,580 shares of the company's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total transaction of $4,910,150.20. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at approximately $3,785,166.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman William C. Rhodes III sold 13,000 shares of the company's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $3,107.15, for a total value of $40,392,950.00. Following the completion of the sale, the chairman now directly owns 13,857 shares in the company, valued at $43,055,777.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock worth $46,225,660 over the last quarter. 2.50% of the stock is currently owned by company insiders.

AutoZone Stock Performance

Shares of AZO traded up $2.32 during trading hours on Tuesday, hitting $3,175.72. The stock had a trading volume of 127,277 shares, compared to its average volume of 139,078. The firm has a 50-day moving average price of $3,111.88 and a 200 day moving average price of $3,019.95. AutoZone, Inc. has a fifty-two week low of $2,510.00 and a fifty-two week high of $3,256.37. The firm has a market capitalization of $53.67 billion, a price-to-earnings ratio of 21.20, a PEG ratio of 1.57 and a beta of 0.71.

AutoZone (NYSE:AZO - Get Free Report) last released its quarterly earnings results on Tuesday, September 24th. The company reported $48.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $53.31 by ($5.20). AutoZone had a net margin of 14.40% and a negative return on equity of 52.99%. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same period in the prior year, the business posted $46.46 EPS. AutoZone's revenue was up 9.0% compared to the same quarter last year. As a group, analysts predict that AutoZone, Inc. will post 158.09 EPS for the current fiscal year.

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.