Massachusetts Financial Services Co. has significantly increased its investment in O’Reilly Automotive, Inc. (NASDAQ: ORLY) by an astonishing 1,467.8% during the second quarter of 2023. This information was disclosed in the firm’s latest Form 13F filing with the Securities and Exchange Commission (SEC). As a result of the investment, Massachusetts Financial Services now holds 9,152,716 shares, valued at approximately $824,934,000.
In addition to Massachusetts Financial Services, several other institutional investors have also adjusted their stakes in O’Reilly Automotive. For example, Bank of Jackson Hole Trust established a new position valued at about $25,000 in the first quarter. Similarly, Oakworth Capital Inc. significantly increased its holdings in the company by 1,257.1%, bringing its total to 285 shares worth $26,000. Other notable increases include HighMark Wealth Management LLC and Canton Hathaway LLC, both of which raised their stakes by 1,400.0% during the second quarter.
As of now, institutional investors and hedge funds collectively own approximately 85.00% of O’Reilly Automotive’s shares.
Recent Insider Activity and Stock Performance
In related news, O’Reilly Automotive’s Director, John Raymond Murphy, sold 3,125 shares of the company on November 4, 2023, at an average price of $92.60, totaling $289,375. Following this transaction, his remaining shares are valued at around $752,375, reflecting a 27.78% decrease in his ownership.
O’Reilly Automotive’s stock performance has been noteworthy. On October 22, 2023, the company reported earnings that exceeded expectations, with $0.85 earnings per share (EPS) against a consensus estimate of $0.83. Revenue for the quarter reached $4.71 billion, surpassing analyst predictions of $4.69 billion. This marks a 7.8% increase compared to the same quarter last year.
As of the latest trading session, shares of O’Reilly Automotive opened at $98.80. The company has a market capitalization of $83.40 billion, a price-to-earnings (P/E) ratio of 34.23, and a P/E growth (P/E/G) ratio of 2.48. The stock has fluctuated between a fifty-two week low of $78.30 and a high of $108.71.
O’Reilly Automotive has set its earnings guidance for fiscal year 2025 at between $2.900 and $3.000 EPS. Analysts project that the company will report an EPS of 43.94 for the current year.
About O’Reilly Automotive
O’Reilly Automotive, Inc. operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, and accessories across the United States, Puerto Rico, and Mexico. The company provides a wide range of products, including new and remanufactured automotive hard parts, maintenance items, and various accessories such as floor mats and seat covers.
For those interested in tracking further developments with O’Reilly Automotive, including hedge fund activities, detailed information can be accessed through platforms such as HoldingsChannel.com, which offers updates on insider trades and institutional holdings.
