Savoir Faire Capital Management L.P. Decreases Stake in AutoZone, Inc. (NYSE:AZO)

Savoir Faire Capital Management L.P. lowered its holdings in AutoZone, Inc. (NYSE:AZO) by 56.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,734 shares of the company’s stock after selling 2,266 shares during the quarter. AutoZone accounts for about 2.8% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 12th biggest holding. Savoir Faire Capital Management L.P.’s holdings in AutoZone were worth $5,462,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AZO. Capital Performance Advisors LLP purchased a new position in shares of AutoZone in the third quarter worth $36,000. Meeder Asset Management Inc. increased its position in AutoZone by 50.0% during the second quarter. Meeder Asset Management Inc. now owns 15 shares of the company’s stock valued at $44,000 after acquiring an additional 5 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in AutoZone during the third quarter valued at $47,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in AutoZone during the second quarter valued at $50,000. Finally, ORG Partners LLC purchased a new stake in AutoZone during the second quarter valued at $50,000. Hedge funds and other institutional investors own 92.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AZO shares. UBS Group upped their price objective on AutoZone from $3,340.00 to $3,500.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Mizuho boosted their price target on AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. BNP Paribas raised AutoZone to a “strong-buy” rating in a report on Wednesday, September 25th. Roth Capital raised AutoZone to a “strong-buy” rating in a report on Tuesday, October 15th. Finally, DA Davidson reissued a “neutral” rating and set a $3,025.00 price target on shares of AutoZone in a report on Monday, September 30th. One research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $3,202.71.

Insider Transactions at AutoZone

In related news, VP John Scott Murphy sold 1,580 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 1,218 shares in the company, valued at $3,785,166.42. The trade was a 56.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman William C. Rhodes III sold 300 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $3,075.20, for a total transaction of $922,560.00. Following the completion of the sale, the chairman now owns 13,857 shares in the company, valued at $42,613,046.40. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,880 shares of company stock worth $46,225,660. 2.10% of the stock is currently owned by insiders.

AutoZone Price Performance

Shares of AZO opened at $3,166.93 on Tuesday. AutoZone, Inc. has a 1-year low of $2,510.00 and a 1-year high of $3,256.37. The stock has a market cap of $53.52 billion, a PE ratio of 21.15, a P/E/G ratio of 1.57 and a beta of 0.71. The firm has a 50-day simple moving average of $3,113.91 and a two-hundred day simple moving average of $3,026.55.

AutoZone (NYSE:AZO) last announced its quarterly earnings data on Tuesday, September 24th. The company reported $48.11 earnings per share 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 business had revenue of $6.21 billion during the quarter, compared to analyst estimates of $6.25 billion. During the same quarter last year, the firm posted $46.46 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that AutoZone, Inc. will post 158.09 earnings per share 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.