Grandfield & Dodd LLC significantly increased its stake in O’Reilly Automotive, Inc. (NASDAQ: ORLY) by a remarkable 1,400% during the second quarter of 2023. According to its latest 13F filing with the U.S. Securities and Exchange Commission (SEC), the firm now holds 6,465 shares of the specialty retailer, having acquired an additional 6,034 shares during this period. As of the end of June, these holdings were valued at approximately $583,000.
Several other institutional investors and hedge funds have also recently adjusted their positions in O’Reilly Automotive. Notably, Bank of Jackson Hole Trust entered a new position valued at around $25,000 in the first quarter. Oakworth Capital Inc. raised its stake by an impressive 1,257.1%, now owning 285 shares worth $26,000 after purchasing an additional 264 shares.
HighMark Wealth Management LLC and Canton Hathaway LLC each boosted their stakes by 1,400% during the same quarter, with both firms now holding 300 shares valued at approximately $27,000. ORG Partners LLC also increased its holdings by 839.4%, now owning 310 shares valued at $28,000. Overall, institutional investors and hedge funds control a substantial 85.00% of O’Reilly Automotive’s stock.
Analysts Predict Positive Trajectory for O’Reilly Automotive
In light of these developments, several brokerages have issued optimistic reports on O’Reilly Automotive. Argus initiated coverage on August 13, 2023, assigning a “buy” rating with a price target of $120.00. Wells Fargo & Company set a target price of $115.00 and rated the stock as “overweight” in a report released on October 15, 2023.
Additionally, DA Davidson raised its price objective from $107.00 to $115.00 with a “buy” rating on July 25, while TD Cowen increased its target from $112.00 to $125.00 on September 15. BMO Capital Markets also raised its target from $100.00 to $110.00, designating the stock as “outperform.” Currently, nineteen research analysts have given O’Reilly Automotive a Buy rating, while two have issued a Hold rating. According to MarketBeat data, the stock has an average rating of “Moderate Buy” with a target price of $111.89.
Insider Trading Activity and Current Stock Performance
In related insider news, Director John Raymond Murphy sold 3,125 shares on November 4, 2023, at an average price of $92.60, totaling $289,375.00. Following this transaction, Murphy retains 8,125 shares valued at approximately $752,375, marking a 27.78% decrease in his position. Company insiders own about 1.01% of O’Reilly Automotive’s stock.
As for the stock’s performance, shares of O’Reilly Automotive opened at $98.35 on November 10, 2023. The company has recorded a 12-month low of $78.30 and a high of $108.71. Its market capitalization stands at $83.45 billion, with a price-to-earnings ratio of 34.07 and a beta of 0.57.
O’Reilly Automotive released its quarterly earnings on October 22, 2023, reporting earnings per share of $0.85, surpassing the consensus estimate of $0.83 by $0.02. The company generated revenue of $4.71 billion for the quarter, exceeding expectations of $4.69 billion, and marked a 7.8% year-over-year increase in revenue. O’Reilly Automotive has provided guidance for fiscal year 2025, projecting earnings per share between $2.900 and $3.000. Analysts anticipate the company will report earnings per share of $43.94 for the current year.
O’Reilly Automotive, Inc. operates as a retailer and supplier of automotive aftermarket parts, tools, and accessories across the United States, Puerto Rico, and Mexico. The company offers a range of products, including new and remanufactured automotive hard parts, maintenance items, and various accessories to meet consumer needs.
For further details on holdings and insider trades, visit HoldingsChannel.com to access the latest 13F filings for O’Reilly Automotive, Inc.
