Strive Financial Group LLC Has $649,000 Stock Holdings in AutoZone, Inc. $AZO

Key Points

• Strive Financial Group cut its AutoZone position by 69.4% in the second quarter, selling 461 shares and retaining 203 shares valued at approximately $649,000. Institutional investors collectively own 92.74% of the company.
• AutoZone shares opened at $2,981.99, near their 52-week low, while the company authorized a $1.5 billion share-repurchase program covering up to 3% of outstanding shares.
• Analysts remain broadly positive, with one Strong Buy, 20 Buy and six Hold ratings, producing a “Moderate Buy” consensus and an average price target of $3,999.04 despite several recent target-price cuts.

Strive Financial Group LLC decreased its position in shares of AutoZone, Inc. (NYSE:AZO - Free Report) by 69.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 203 shares of the company's stock after selling 461 shares during the period. Strive Financial Group LLC's holdings in AutoZone were worth $649,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AZO. Turning Point Benefit Group Inc. purchased a new stake in shares of AutoZone during the 3rd quarter worth about $25,000. Transamerica Financial Advisors LLC grew its stake in shares of AutoZone by 100.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company's stock valued at $28,000 after buying an additional 4 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in AutoZone in the second quarter worth approximately $29,000. MCF Advisors LLC increased its holdings in AutoZone by 50.0% in the fourth quarter. MCF Advisors LLC now owns 9 shares of the company's stock worth $31,000 after buying an additional 3 shares during the last quarter. Finally, Bard Associates Inc. bought a new position in AutoZone during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 92.74% of the company's stock.

Insiders Place Their Bets

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of the company's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the sale, the vice president directly owned 441 shares in the company, valued at $1,367,100. This represents a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AZO has been the subject of a number of analyst reports. Mizuho reduced their target price on shares of AutoZone from $3,600.00 to $3,200.00 and set a "neutral" rating for the company in a research note on Wednesday, May 27th. Morgan Stanley cut their price target on shares of AutoZone from $4,020.00 to $3,605.00 and set an "overweight" rating on the stock in a report on Wednesday, May 27th. TD Cowen reduced their price objective on shares of AutoZone from $3,700.00 to $3,500.00 and set a "buy" rating for the company in a research note on Monday, August 31st. Guggenheim lowered their target price on shares of AutoZone from $4,400.00 to $4,000.00 and set a "buy" rating on the stock in a research report on Wednesday, May 27th. Finally, Evercore restated an "outperform" rating on shares of AutoZone in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $3,999.04.

AutoZone Trading Up 0.5%

NYSE AZO opened at $2,981.99 on Friday. AutoZone, Inc. has a 1 year low of $2,902.20 and a 1 year high of $4,388.11. The company has a fifty day simple moving average of $3,036.29 and a 200 day simple moving average of $3,280.85. The company has a market cap of $48.70 billion, a P/E ratio of 20.50, a P/E/G ratio of 1.48 and a beta of 0.34.

AutoZone declared that its board has authorized a stock repurchase program on Tuesday, June 16th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

AutoZone Company Profile

AutoZone, Inc NYSE: AZO is a retailer and distributor of automotive replacement parts and accessories. Headquartered in Memphis, Tennessee, the company supplies a wide range of aftermarket components, maintenance items and accessories for passenger cars, light trucks and commercial vehicles. Its product assortment includes engine parts, electrical components, batteries, brakes, filters, fluids and interior and exterior accessories, supported by inventory management and logistics systems to serve retail customers and professional service providers.

AutoZone serves both do‑it‑yourself (DIY) consumers and commercial customers such as independent repair shops and service centers.

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