New South Capital Management Inc. Has $173.22 Million Stake in AutoZone, Inc. (NYSE:AZO)

New South Capital Management Inc. decreased its position in AutoZone, Inc. (NYSE:AZO) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,991 shares of the company’s stock after selling 979 shares during the period. AutoZone accounts for 7.1% of New South Capital Management Inc.’s portfolio, making the stock its 2nd largest position. New South Capital Management Inc. owned 0.33% of AutoZone worth $173,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of AutoZone by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 41,415 shares of the company’s stock valued at $130,459,000 after purchasing an additional 387 shares during the last quarter. Waverton Investment Management Ltd acquired a new position in AutoZone in the third quarter valued at approximately $208,000. Nations Financial Group Inc. IA ADV boosted its stake in AutoZone by 8.7% in the third quarter. Nations Financial Group Inc. IA ADV now owns 524 shares of the company’s stock valued at $1,651,000 after acquiring an additional 42 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in AutoZone during the 3rd quarter worth $66,000. Finally, Axxcess Wealth Management LLC grew its holdings in AutoZone by 1.5% during the 3rd quarter. Axxcess Wealth Management LLC now owns 267 shares of the company’s stock worth $841,000 after acquiring an additional 4 shares during the period. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

AutoZone Stock Up 2.0 %

NYSE:AZO opened at $3,173.40 on Tuesday. The firm has a market capitalization of $53.63 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 1.57 and a beta of 0.71. AutoZone, Inc. has a twelve month low of $2,510.00 and a twelve month high of $3,256.37. The stock’s 50 day moving average price is $3,111.88 and its two-hundred day moving average price is $3,019.95.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AZO. DA Davidson restated a “neutral” rating and issued a $3,025.00 price target on shares of AutoZone in a research report on Monday, September 30th. Morgan Stanley raised their target price on AutoZone from $3,038.00 to $3,125.00 and gave the stock an “overweight” rating in a report on Wednesday, September 25th. Wedbush reaffirmed an “outperform” rating and issued a $3,200.00 price target on shares of AutoZone in a research note on Thursday, September 19th. Evercore ISI increased their price target on shares of AutoZone from $3,300.00 to $3,350.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Mizuho boosted their price objective on shares of AutoZone from $3,280.00 to $3,350.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. One investment 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. According to data from MarketBeat.com, AutoZone presently has an average rating of “Moderate Buy” and a consensus target price of $3,202.71.

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.