Elk River Wealth Management LLC Trims Holdings in O’Reilly Automotive, Inc. (NASDAQ:ORLY)

Elk River Wealth Management LLC lowered its holdings in O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 1.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,364 shares of the specialty retailer’s stock after selling 100 shares during the quarter. O’Reilly Automotive makes up about 1.5% of Elk River Wealth Management LLC’s investment portfolio, making the stock its 19th largest holding. Elk River Wealth Management LLC’s holdings in O’Reilly Automotive were worth $8,480,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in O’Reilly Automotive during the first quarter valued at $36,000. Indiana Trust & Investment Management CO raised its position in shares of O’Reilly Automotive by 325.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 34 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 26 shares during the last quarter. Riverview Trust Co bought a new position in O’Reilly Automotive in the 1st quarter worth about $41,000. Crewe Advisors LLC purchased a new stake in O’Reilly Automotive during the 1st quarter valued at about $43,000. Finally, Kings Path Partners LLC bought a new stake in O’Reilly Automotive during the 2nd quarter valued at about $44,000. 85.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ORLY shares. DA Davidson boosted their target price on O’Reilly Automotive from $1,200.00 to $1,275.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Truist Financial boosted their price objective on shares of O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a report on Monday. Bank of America upped their price objective on O’Reilly Automotive from $1,204.00 to $1,290.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Wells Fargo & Company boosted their price target on O’Reilly Automotive from $1,250.00 to $1,325.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Royal Bank of Canada lowered their price objective on shares of O’Reilly Automotive from $1,124.00 to $1,115.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,178.29.

Insider Buying and Selling

In related news, SVP Christopher Andrew Mancini sold 1,557 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $1,125.00, for a total transaction of $1,751,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Christopher Andrew Mancini sold 1,557 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $1,125.00, for a total transaction of $1,751,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory D. Johnson sold 15,364 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $1,136.16, for a total transaction of $17,455,962.24. Following the sale, the director now owns 5,016 shares in the company, valued at $5,698,978.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,411 shares of company stock valued at $56,846,062. Corporate insiders own 1.55% of the company’s stock.

O’Reilly Automotive Trading Up 0.5 %

Shares of ORLY traded up $5.89 during trading hours on Monday, reaching $1,193.42. 22,803 shares of the stock traded hands, compared to its average volume of 376,409. The company has a market cap of $70.29 billion, a P/E ratio of 30.10, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92. The company’s 50-day moving average price is $1,133.44 and its two-hundred day moving average price is $1,075.91. O’Reilly Automotive, Inc. has a 52-week low of $860.10 and a 52-week high of $1,194.36.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings data on Wednesday, July 24th. The specialty retailer reported $10.55 EPS for the quarter, missing the consensus estimate of $10.98 by ($0.43). The business had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.32 billion. O’Reilly Automotive had a net margin of 14.57% and a negative return on equity of 146.57%. O’Reilly Automotive’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.22 earnings per share. On average, research analysts forecast that O’Reilly Automotive, Inc. will post 41.1 EPS for the current year.

O’Reilly Automotive Profile

O’Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.