Massachusetts Financial Services Co. has significantly increased its investment in O’Reilly Automotive, Inc. (NASDAQ: ORLY), raising its stake by an astonishing 1,467.8% in the second quarter of 2023. According to the most recent Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor now owns 9,152,716 shares of the specialty retailer’s stock, valued at approximately $824.9 million.
Other institutional investors have also made adjustments to their holdings in O’Reilly Automotive. For instance, Bank of Jackson Hole Trust established a new position during the first quarter, valued at around $25,000. Similarly, Oakworth Capital Inc. expanded its stake by 1,257.1% in the second quarter, acquiring an additional 264 shares, bringing its total to 285 shares worth $26,000. HighMark Wealth Management LLC and Canton Hathaway LLC both increased their holdings by 1,400.0%, each owning 300 shares valued at $27,000 after their recent purchases. Lastly, ORG Partners LLC boosted its position by 839.4%, now holding 310 shares worth $28,000. Collectively, institutional investors and hedge funds now own 85.00% of O’Reilly’s stock.
Recent Insider Activity and Stock Performance
In related developments, O’Reilly Automotive’s Director, John Raymond Murphy, sold 3,125 shares on November 4, 2023, at an average price of $92.60, totaling $289,375. Following this transaction, Murphy’s ownership decreased by 27.78%, leaving him with 8,125 shares valued at approximately $752,375. This transaction was disclosed in a filing accessible through the SEC.
As for O’Reilly Automotive’s stock performance, shares opened at $98.80 recently. The company’s 50-day moving average stands at $101.37, while the 200-day moving average is $97.13. O’Reilly Automotive boasts a market capitalization of $83.40 billion and a price-to-earnings (P/E) ratio of 34.23. The company has seen a 52-week low of $78.30 and a high of $108.71.
The specialty retailer recently reported its earnings on October 22, 2023, revealing earnings per share (EPS) of $0.85, exceeding analyst expectations of $0.83. O’Reilly Automotive’s revenue for the quarter reached $4.71 billion, surpassing estimates of $4.69 billion and reflecting a 7.8% increase compared to the previous year. The company has set its fiscal year 2025 guidance at $2.900-3.000 EPS, with analysts projecting an EPS of 43.94 for the current year.
About O’Reilly Automotive
O’Reilly Automotive, Inc., along with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories across the United States, Puerto Rico, and Mexico. The company offers a wide range of products, including new and remanufactured automotive components, maintenance items, and various accessories.
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