AutoZone, Inc. (NYSE:AZO) Stock Holdings Lessened by New South Capital Management Inc.

New South Capital Management Inc. cut its holdings in AutoZone, Inc. (NYSE:AZO) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,970 shares of the company’s stock after selling 323 shares during the quarter. AutoZone makes up approximately 7.4% of New South Capital Management Inc.’s holdings, making the stock its 2nd largest holding. New South Capital Management Inc.’s holdings in AutoZone were worth $165,901,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AZO. Boston Partners grew its position in shares of AutoZone by 1.7% in the 1st quarter. Boston Partners now owns 382,169 shares of the company’s stock worth $1,202,596,000 after buying an additional 6,226 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in AutoZone by 137.6% in the second quarter. PineStone Asset Management Inc. now owns 310,043 shares of the company’s stock valued at $918,998,000 after acquiring an additional 179,543 shares in the last quarter. Norges Bank purchased a new position in AutoZone during the 4th quarter valued at $678,350,000. Parnassus Investments LLC raised its holdings in AutoZone by 32.0% in the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after purchasing an additional 58,989 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of AutoZone by 11.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 212,831 shares of the company’s stock worth $550,296,000 after purchasing an additional 22,507 shares during the period. Hedge funds and other institutional investors own 92.74% of the company’s stock.

AutoZone Trading Down 1.5 %

Shares of AZO opened at $3,092.56 on Friday. The company has a market cap of $52.83 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 1.60 and a beta of 0.71. The business’s fifty day simple moving average is $3,058.29 and its two-hundred day simple moving average is $2,998.94. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AZO. Citigroup decreased their price target on shares of AutoZone from $3,420.00 to $3,250.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. UBS Group lowered their target price on AutoZone from $3,465.00 to $3,340.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. Wedbush reiterated an “outperform” rating and issued a $3,200.00 price objective on shares of AutoZone in a report on Wednesday, July 10th. Guggenheim boosted their target price on shares of AutoZone from $3,150.00 to $3,225.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Barclays decreased their price target on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $3,112.71.

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.