Grandfield & Dodd LLC has markedly increased its investment in O’Reilly Automotive, Inc. (NASDAQ: ORLY) by an impressive 1,400.0% during the second quarter of 2023, as detailed in the firm’s recent 13F filing with the U.S. Securities and Exchange Commission. Following this acquisition, Grandfield & Dodd now holds 6,465 shares of the specialty retailer, with a total value of approximately $583,000 at the end of the quarter.
This substantial increase in holdings comes at a time when other institutional investors and hedge funds are also actively engaging with O’Reilly’s stock. For instance, Bank of Jackson Hole Trust established a new position in the company during the first quarter, valued at around $25,000. Similarly, Oakworth Capital Inc. raised its stake in O’Reilly Automotive by 1,257.1% during the second quarter, now owning 285 shares worth approximately $26,000.
Institutional Investor Trends
Other notable investors include HighMark Wealth Management LLC and Canton Hathaway LLC, both of which increased their stakes by 1,400.0%. HighMark now possesses 300 shares valued at $27,000, while Canton Hathaway also owns 300 shares with a similar valuation. Additionally, ORG Partners LLC lifted its holdings by 839.4%, acquiring 310 shares valued at $28,000. Overall, institutional investors now hold approximately 85.00% of O’Reilly’s stock.
Analysts on Wall Street are optimistic about O’Reilly’s future performance. Several brokerages have issued reports with favorable ratings. Argus recently began coverage with a “buy” rating and a price target of $120.00. Wells Fargo & Company set a price target of $115.00, designating the stock as “overweight.”
DA Davidson raised its price objective from $107.00 to $115.00, also issuing a “buy” rating. TD Cowen increased its target price to $125.00 and BMO Capital Markets raised theirs to $110.00, giving the stock an “outperform” rating. Currently, nineteen analysts have rated the stock as a “Buy,” while two have issued a “Hold” rating, resulting in an average rating of “Moderate Buy” and a price target of $111.89, according to MarketBeat.
Recent Insider Transactions and Stock Performance
In related news, Director John Raymond Murphy sold 3,125 shares of O’Reilly’s stock on November 4, 2023, at an average price of $92.60, totaling $289,375.00. Following this sale, Murphy retains 8,125 shares, now valued at $752,375, marking a 27.78% reduction in his position. This transaction has been disclosed in a filing with the SEC, which is publicly accessible.
As of the latest trading, O’Reilly Automotive saw its share price open at $98.35. The stock has experienced a 12-month low of $78.30 and a high of $108.71. The company boasts a market capitalization of $83.45 billion, a price-to-earnings (P/E) ratio of 34.07, and a beta of 0.57.
O’Reilly Automotive recently published its quarterly earnings results on October 22, 2023, reporting earnings per share (EPS) of $0.85, surpassing consensus estimates of $0.83 by $0.02. The company’s revenue for the quarter reached $4.71 billion, exceeding the forecast of $4.69 billion and reflecting a year-over-year growth of 7.8%.
For the fiscal year 2025, O’Reilly Automotive has set an EPS guidance of $2.900–3.000. Analysts predict that the company will achieve an average EPS of $43.94 for the current year.
O’Reilly Automotive, Inc. operates as a significant retailer and supplier of automotive aftermarket parts, tools, and accessories in the United States, Puerto Rico, and Mexico. The company offers a range of products, including both new and remanufactured automotive hard parts, maintenance items, and various accessories.
For ongoing updates about O’Reilly Automotive and related investment activities, interested parties can visit HoldingsChannel.com for the latest news and insights from the market.
