AutoZone, Inc. (NYSE:AZO) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lowered its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 3.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,322 shares of the company's stock after selling 166 shares during the period. AutoZone accounts for about 1.4% of Sawgrass Asset Management LLC's investment portfolio, making the stock its 24th largest holding. Sawgrass Asset Management LLC's holdings in AutoZone were worth $13,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. increased its position in AutoZone by 0.7% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 11,082 shares of the company's stock worth $34,909,000 after buying an additional 82 shares during the period. Kinsale Capital Group Inc. increased its position in AutoZone by 16.9% in the 3rd quarter. Kinsale Capital Group Inc. now owns 1,664 shares of the company's stock worth $5,242,000 after purchasing an additional 241 shares during the last quarter. Natixis Advisors LLC raised its stake in AutoZone by 4.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,122 shares of the company's stock valued at $50,785,000 after purchasing an additional 699 shares during the last quarter. Mizuho Securities USA LLC lifted its position in AutoZone by 592.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 9,210 shares of the company's stock worth $29,012,000 after buying an additional 7,879 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in AutoZone by 16.6% in the third quarter. Empowered Funds LLC now owns 1,514 shares of the company's stock valued at $4,769,000 after acquiring an additional 215 shares during the period. 92.74% of the stock is currently owned by hedge funds and other institutional investors.

AutoZone Price Performance

AutoZone stock traded down $28.53 during trading hours on Friday, hitting $3,107.53. The company had a trading volume of 117,884 shares, compared to its average volume of 124,162. The firm has a 50-day moving average of $3,112.88 and a 200 day moving average of $3,024.56. AutoZone, Inc. has a one year low of $2,510.00 and a one year high of $3,256.37. The firm has a market cap of $52.52 billion, a PE ratio of 20.76, a PEG ratio of 1.57 and a beta of 0.71.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Capital raised AutoZone to a "strong-buy" rating in a report on Tuesday, October 15th. UBS Group upped their target price on shares of AutoZone from $3,340.00 to $3,500.00 and gave the stock a "buy" rating in a research note on Wednesday, September 25th. The Goldman Sachs Group lowered 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. Wedbush restated an "outperform" rating and set a $3,200.00 target price on shares of AutoZone in a report on Thursday, September 19th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $3,634.00 target price on shares of AutoZone in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $3,202.71.

Insider Buying and Selling at AutoZone

In related news, Chairman William C. Rhodes III sold 300 shares of the company's stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total value of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at approximately $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP John Scott Murphy sold 1,580 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $3,107.69, for a total value of $4,910,150.20. Following the completion of the sale, the vice president now owns 1,218 shares of the company's stock, valued at approximately $3,785,166.42. This trade represents a 56.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,880 shares of company stock valued at $46,225,660 in the last quarter. Corporate insiders own 2.10% of the company's stock.

AutoZone Profile

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.