DoubleLine ETF Adviser LP Takes Position in AutoZone, Inc. $AZO

Key Points

• DoubleLine ETF Adviser LP has acquired a new position in AutoZone, purchasing 395 shares valued at approximately $1.5 million.
• Institutional investors own 92.74% of AutoZone's shares, indicating strong market confidence in the stock.
• Recent analyst reports have generally been positive, with several firms raising their target prices and maintaining buy or strong buy ratings for AutoZone.

DoubleLine ETF Adviser LP acquired a new stake in AutoZone, Inc. (NYSE:AZO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 395 shares of the company's stock, valued at approximately $1,506,000.

A number of other large investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of AutoZone by 14.4% in the 4th quarter. Brighton Jones LLC now owns 111 shares of the company's stock valued at $356,000 after purchasing an additional 14 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of AutoZone by 2.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 266 shares of the company's stock valued at $852,000 after purchasing an additional 6 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of AutoZone by 18.7% in the 4th quarter. Bank of America Corp DE now owns 122,538 shares of the company's stock valued at $392,367,000 after purchasing an additional 19,265 shares in the last quarter. Baird Financial Group Inc. boosted its holdings in shares of AutoZone by 2.2% in the 4th quarter. Baird Financial Group Inc. now owns 1,271 shares of the company's stock valued at $4,072,000 after purchasing an additional 27 shares in the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of AutoZone in the 4th quarter valued at $429,000. Institutional investors and hedge funds own 92.74% of the company's stock.

Insider Transactions at AutoZone

In related news, VP Richard Craig Smith sold 3,000 shares of AutoZone stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total value of $11,627,700.00. Following the sale, the vice president owned 2,925 shares of the company's stock, valued at approximately $11,337,007.50. The trade was a 50.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP K. Michelle Borninkhof sold 750 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total transaction of $2,697,847.50. Following the sale, the senior vice president directly owned 406 shares in the company, valued at $1,460,434.78. The trade was a 64.88% decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AZO has been the topic of several recent research reports. UBS Group raised their price objective on AutoZone from $4,025.00 to $4,260.00 and gave the company a "buy" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. raised their target price on AutoZone from $3,830.00 to $4,350.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of AutoZone in a research report on Wednesday, May 28th. Finally, Mizuho lifted their price objective on AutoZone from $3,740.00 to $4,050.00 and gave the stock an "outperform" rating in a research report on Thursday, July 3rd. Three research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $4,148.90.

AutoZone Price Performance

Shares of AZO traded up $24.31 during trading hours on Tuesday, hitting $4,267.19. The stock had a trading volume of 56,438 shares, compared to its average volume of 128,376. The firm has a 50 day simple moving average of $3,940.19 and a 200-day simple moving average of $3,753.48. The firm has a market capitalization of $71.60 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 2.22 and a beta of 0.41. AutoZone, Inc. has a 1-year low of $2,898.57 and a 1-year high of $4,271.67.

AutoZone Company 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.