Massachusetts Financial Services Co. has significantly increased its investment in O’Reilly Automotive, Inc. (NASDAQ: ORLY), boosting its stake by an astonishing 1,467.8% during the second quarter of 2023. This information was revealed in the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC). Following the acquisition of an additional 8,568,904 shares, Massachusetts Financial Services now holds a total of 9,152,716 shares, valued at approximately $824,934,000.
Several other institutional investors and hedge funds have also made adjustments to their holdings in O’Reilly Automotive. For instance, the Bank of Jackson Hole Trust initiated a new position in the company during the first quarter, investing around $25,000. Additionally, Oakworth Capital Inc. expanded its stake by 1,257.1%, now owning 285 shares worth $26,000. Similarly, both HighMark Wealth Management LLC and Canton Hathaway LLC increased their positions by 1,400.0%, each holding 300 shares valued at approximately $27,000. ORG Partners LLC also raised its investment by 839.4%, now owning 310 shares valued at $28,000. Overall, institutional investors control 85.00% of O’Reilly Automotive’s stock.
Insider Transactions 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 retains 8,125 shares, valued at about $752,375, marking a 27.78% decrease in his ownership.
As of the latest data, O’Reilly Automotive shares opened at $98.80. The company’s 50-day moving average stands at $101.37, while the 200-day moving average is $97.13. O’Reilly Automotive has a market capitalization of $83.40 billion, with a price-to-earnings (P/E) ratio of 34.23 and a P/E to growth (P/E/G) ratio of 2.48. The company’s stock has fluctuated between a fifty-two week low of $78.30 and a high of $108.71.
O’Reilly Automotive most recently reported its earnings on October 22, 2023. The specialty retailer announced earnings per share (EPS) of $0.85, surpassing analysts’ expectations of $0.83 by $0.02. The company posted a revenue of $4.71 billion for the quarter, exceeding the forecast of $4.69 billion. This represents a 7.8% increase in revenue compared to the same quarter last year, when it reported $11.41 EPS.
Looking ahead, O’Reilly Automotive has set its fiscal year 2025 guidance at an EPS range of 2.900-3.000. Analysts predict the company will achieve 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 both new and remanufactured automotive hard parts and maintenance items, including alternators, batteries, brake system components, and engine parts, among others. Additionally, O’Reilly provides a wide range of accessories such as floor mats and seat covers.
For those interested in tracking hedge fund activities related to O’Reilly Automotive, further details can be found on platforms that provide insights into recent 13F filings and insider trading.
