Tiemann Investment Advisors LLC significantly increased its stake in O’Reilly Automotive, Inc. (NASDAQ: ORLY) by an impressive 1,541.6% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission (SEC), the institutional investor acquired an additional 2,667 shares, bringing its total holdings to 2,840 shares, valued at approximately $256,000.
Several other institutional investors have also adjusted their positions in O’Reilly Automotive. Oxbow Advisors LLC raised its stake by 785.7%, owning 66,315 shares valued at $5.977 million after purchasing 58,828 shares during the last quarter. Providence First Trust Co boosted its holdings by 1,433.6%, now owning 6,855 shares worth $618,000 following an acquisition of 6,408 shares. Vanguard Group Inc. increased its position by 1.5% in the first quarter, resulting in ownership of 5,238,396 shares valued at approximately $7.5 billion.
Prime Capital Investment Advisors LLC also made significant investments, raising its holdings by 1,063.1% to own 107,892 shares worth $9.724 million. Additionally, Massachusetts Financial Services Co. MA increased its stake by 33.9%, now holding 583,812 shares valued at $836.4 million. Collectively, institutional investors own about 85% of O’Reilly Automotive’s stock.
Analyst Ratings and Performance
Recent reports from various brokerages indicate a positive outlook for O’Reilly Automotive. UBS Group reiterated a “buy” rating, raising the price target from $115.00 to $120.00. BMO Capital Markets also uplifted their target price from $100.00 to $110.00, while Citigroup increased its price target from $104.00 to $114.00. Nineteen investment analysts have rated the stock as a buy, with a consensus rating of “Moderate Buy” and an average price target of $111.89.
In its latest quarterly earnings report released on October 22, 2023, O’Reilly Automotive reported earnings per share (EPS) of $0.85, surpassing analysts’ expectations of $0.83. The firm reported revenues of $4.71 billion, exceeding the anticipated $4.69 billion. This marked a year-over-year revenue increase of 7.8%.
Insider Transactions and Stock Performance
In related insider transactions, Senior Vice President Carl David Wilbanks sold 88,485 shares at an average price of $102.54, totaling approximately $9.07 million. Following this sale, Wilbanks retained ownership of 10,305 shares, valued at about $1.06 million. Director Maria Sastre also sold 595 shares at an average price of $102.31, amounting to $60,874.45.
Over the past quarter, insiders sold a total of 92,205 shares valued at around $9.42 million. Currently, insiders hold approximately 1.01% of the company’s stock.
As of the latest trading session, shares of O’Reilly Automotive opened at $98.10. The company has a market capitalization of $83.24 billion, a price-to-earnings (PE) ratio of 33.98, and a beta of 0.57. Over the past year, the stock has fluctuated between a low of $78.30 and a high of $108.71.
O’Reilly Automotive operates as a retailer and supplier of automotive aftermarket parts, tools, and accessories across the United States, Puerto Rico, and Mexico. The company provides a wide range of automotive products, including new and remanufactured parts, maintenance items, and various accessories.
Investors and analysts alike will be closely monitoring O’Reilly Automotive’s performance as it continues to navigate the dynamic automotive market landscape.
