Tidal Investments LLC Acquires 1,809 Shares of AutoZone, Inc. $AZO

Tidal Investments LLC raised its holdings in AutoZone, Inc. (NYSE:AZO) by 29.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,922 shares of the company’s stock after acquiring an additional 1,809 shares during the period. Tidal Investments LLC’s holdings in AutoZone were worth $25,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of AZO. Turning Point Benefit Group Inc. bought a new position in shares of AutoZone during the 3rd quarter valued at about $25,000. Transamerica Financial Advisors LLC increased its stake in AutoZone by 100.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 8 shares of the company’s stock worth $28,000 after purchasing an additional 4 shares in the last quarter. MCF Advisors LLC raised its holdings in AutoZone by 50.0% during the 4th quarter. MCF Advisors LLC now owns 9 shares of the company’s stock worth $31,000 after buying an additional 3 shares during the period. Bard Associates Inc. acquired a new stake in AutoZone during the 4th quarter worth approximately $31,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in AutoZone during the 2nd quarter worth approximately $29,000. 92.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AZO has been the subject of several research analyst reports. DA Davidson reduced their price target on shares of AutoZone from $4,300.00 to $3,750.00 and set a “buy” rating for the company in a report on Wednesday, May 27th. Evercore reiterated an “outperform” rating on shares of AutoZone in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of AutoZone in a report on Wednesday, May 27th. Piper Sandler set a $3,500.00 price target on AutoZone in a research report on Monday, August 31st. Finally, Robert W. Baird lowered their price target on AutoZone from $3,900.00 to $3,600.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, AutoZone has a consensus rating of “Moderate Buy” and a consensus price target of $3,957.38.

AutoZone Trading Down 1.1%

Shares of NYSE AZO opened at $2,878.18 on Friday. The company has a market capitalization of $47.00 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.46 and a beta of 0.34. AutoZone, Inc. has a 12 month low of $2,876.25 and a 12 month high of $4,388.11. The stock has a 50 day moving average of $3,016.50 and a 200-day moving average of $3,253.93.

AutoZone announced that its Board of Directors has approved a stock repurchase program on Tuesday, June 16th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the company to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at AutoZone

In other AutoZone news, VP Dennis LeRiche sold 1,455 shares of AutoZone stock in a transaction on 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 transaction, the vice president directly owned 441 shares of the company’s stock, valued at $1,367,100. The trade was a 76.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

AutoZone Profile

AutoZone, Inc is a retailer and distributor of automotive replacement parts, accessories, and maintenance products. The company serves do-it-yourself customers, professional service technicians, and commercial repair businesses through its stores, distribution network, and online platform.

Its product offerings include replacement parts such as batteries, brakes, engine components, and ignition products, along with tools, fluids, filters, and other automotive accessories. AutoZone also provides services such as parts lookup, diagnostic assistance, battery testing and charging, and loaner tools for eligible repairs.

Founded in 1979 and headquartered in Memphis, Tennessee, AutoZone operates primarily in the United States, with additional locations in Mexico and Brazil.