Strive Financial Group LLC Sells 461 Shares of AutoZone, Inc. $AZO

Strive Financial Group LLC decreased its stake in AutoZone, Inc. (NYSE:AZO) by 69.4% during the 2nd quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, VP Dennis LeRiche sold 1,455 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $3,100.00, for a total transaction of $4,510,500.00. Following the completion of the transaction, the vice president owned 441 shares in the company, valued at $1,367,100. This trade represents a 76.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

AutoZone Stock Up 0.5%

Shares of AZO opened at $2,981.99 on Friday. The company has a 50-day moving average price of $3,036.29 and a two-hundred day moving average price of $3,280.85. The stock has a market cap of $48.70 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.48 and a beta of 0.34. AutoZone, Inc. has a 12 month low of $2,902.20 and a 12 month high of $4,388.11.

AutoZone declared that its Board of Directors has initiated a share buyback plan on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Morgan Stanley cut their price target on AutoZone from $4,020.00 to $3,605.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. Jefferies Financial Group lowered their price objective on 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. TD Cowen cut their target price on 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. Roth Capital reduced their target price on AutoZone from $4,526.00 to $4,023.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Finally, Weiss Ratings downgraded shares of AutoZone from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3,999.04.

AutoZone 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.