AutoZone, Inc. $AZO Stake Reduced by New South Capital Management Inc.

New South Capital Management Inc. trimmed its holdings in AutoZone, Inc. (NYSE:AZO - Free Report) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,829 shares of the company's stock after selling 7,186 shares during the quarter. AutoZone accounts for about 5.9% of New South Capital Management Inc.'s portfolio, making the stock its 4th biggest holding. New South Capital Management Inc. owned 0.19% of AutoZone worth $87,247,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AZO. Jacobi Capital Management LLC acquired a new stake in shares of AutoZone during the 3rd quarter valued at $99,000. Cherokee Insurance Co grew its holdings in shares of AutoZone by 2.9% in the 3rd quarter. Cherokee Insurance Co now owns 1,750 shares of the company's stock worth $4,953,000 after acquiring an additional 50 shares during the last quarter. Keybank National Association OH grew its holdings in shares of AutoZone by 46.0% in the 3rd quarter. Keybank National Association OH now owns 714 shares of the company's stock worth $2,021,000 after acquiring an additional 225 shares during the last quarter. D Orazio & Associates Inc. raised its position in shares of AutoZone by 8.6% during the third quarter. D Orazio & Associates Inc. now owns 76 shares of the company's stock worth $215,000 after purchasing an additional 6 shares during the period. Finally, New York Life Investment Management LLC raised its position in shares of AutoZone by 2.3% during the third quarter. New York Life Investment Management LLC now owns 2,430 shares of the company's stock worth $6,877,000 after purchasing an additional 55 shares during the period. Institutional investors own 92.74% of the company's stock.

AutoZone Stock Up 0.5%

Shares of AutoZone stock opened at $3,234.93 on Thursday. The stock has a market cap of $52.06 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.37. The business has a fifty day simple moving average of $3,008.24 and a 200-day simple moving average of $3,248.38. AutoZone, Inc. has a 12 month low of $2,730.65 and a 12 month high of $3,996.25.

AutoZone (NYSE:AZO - Get Free Report) last issued its quarterly earnings results on Tuesday, September 22nd. The company reported $56.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $55.51. The business had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.70 billion. AutoZone had a negative return on equity of 90.08% and a net margin of 12.65%. AutoZone's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $48.71 earnings per share. Analysts expect that AutoZone, Inc. will post 170.30 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AZO has been the subject of several analyst reports. TD Cowen reaffirmed a "buy" rating on shares of AutoZone in a report on Monday, October 26th. JPMorgan Chase & Co. dropped their price target on AutoZone from $3,850.00 to $3,700.00 and set an "overweight" rating on the stock in a research note on Monday, September 28th. Bank of America began coverage on AutoZone in a report on Monday, October 26th. They set a "buy" rating and a $3,800.00 price objective on the stock. Morgan Stanley lowered shares of AutoZone from an "overweight" rating to a "market perform" rating in a research note on Tuesday, September 29th. Finally, UBS Group set a $3,850.00 target price on shares of AutoZone in a report on Wednesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, AutoZone currently has an average rating of "Moderate Buy" and an average target price of $3,674.36.

Insider Buying and Selling

In other AutoZone news, CFO Jamere Jackson sold 6,900 shares of AutoZone stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $3,319.71, for a total transaction of $22,905,999.00. Following the transaction, the chief financial officer owned 496 shares of the company's stock, valued at $1,646,576.16. The trade was a 93.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.80% of the company's stock.

AutoZone Profile

AutoZone is a retailer and distributor of automotive replacement parts and accessories, serving do-it-yourself customers as well as professional repair shops. Its products include new and remanufactured parts, maintenance supplies, and accessories for cars, sport utility vehicles, and light trucks. The company also offers services such as battery testing and tool-loan programs at many stores. Founded in 1979 and headquartered in Memphis, Tennessee, the company operates stores in the United States, Mexico, and Brazil.

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