O’Reilly Automotive, Inc. (ORLY) Shares Sold by Welch & Forbes LLC
Welch & Forbes LLC cut its position in O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 10.5% during the second quarter, Holdings Channel reports. The firm owned 275,836 shares of the specialty retailer’s stock after selling 32,519 shares during the period. O’Reilly Automotive comprises about 1.7% of Welch & Forbes LLC’s portfolio, making the stock its 13th largest position. Welch & Forbes LLC’s holdings in O’Reilly Automotive were worth $60,335,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Nikko Asset Management Americas Inc. bought a new position in shares of O’Reilly Automotive during the first quarter worth $108,000. Parkside Financial Bank & Trust increased its stake in O’Reilly Automotive by 1.2% in the first quarter. Parkside Financial Bank & Trust now owns 414 shares of the specialty retailer’s stock valued at $112,000 after buying an additional 5 shares during the period. Proficio Capital Partners LLC increased its stake in O’Reilly Automotive by 23.1% in the first quarter. Proficio Capital Partners LLC now owns 496 shares of the specialty retailer’s stock valued at $119,000 after buying an additional 93 shares during the period. FTB Advisors Inc. increased its stake in O’Reilly Automotive by 108.2% in the first quarter. FTB Advisors Inc. now owns 506 shares of the specialty retailer’s stock valued at $124,000 after buying an additional 263 shares during the period. Finally, State of Alaska Department of Revenue acquired a new stake in O’Reilly Automotive during the first quarter valued at approximately $177,000. 92.47% of the stock is currently owned by institutional investors.
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O’Reilly Automotive, Inc. (NASDAQ ORLY) opened at 205.60 on Friday. The firm’s 50-day moving average is $202.81 and its 200-day moving average is $245.61. O’Reilly Automotive, Inc. has a 12 month low of $169.43 and a 12 month high of $291.56. The company has a market capitalization of $18.09 billion, a PE ratio of 18.01 and a beta of 0.74.
O’Reilly Automotive (NASDAQ:ORLY) last posted its quarterly earnings results on Wednesday, July 26th. The specialty retailer reported $3.10 EPS for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.20. O’Reilly Automotive had a return on equity of 72.22% and a net margin of 12.23%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the firm earned $2.65 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that O’Reilly Automotive, Inc. will post $11.88 EPS for the current fiscal year.
O’Reilly Automotive announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 10th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the specialty retailer to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several equities research analysts have commented on ORLY shares. Atlantic Securities raised shares of O’Reilly Automotive to an “overweight” rating and set a $307.00 price objective on the stock in a report on Friday, April 7th. They noted that the move was a valuation call. Deutsche Bank AG downgraded shares of O’Reilly Automotive from a “buy” rating to a “hold” rating and dropped their price objective for the company from $315.00 to $273.00 in a report on Tuesday, April 25th. Royal Bank Of Canada dropped their price objective on shares of O’Reilly Automotive from $304.00 to $297.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 25th. Credit Suisse Group set a $290.00 price objective on shares of O’Reilly Automotive and gave the company a “buy” rating in a report on Monday, April 24th. Finally, Oppenheimer Holdings, Inc. set a $300.00 price objective on shares of O’Reilly Automotive and gave the company a “buy” rating in a report on Thursday, April 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $242.80.
In other news, SVP Randy Johnson sold 1,040 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $218.74, for a total transaction of $227,489.60. Following the sale, the senior vice president now directly owns 9,224 shares of the company’s stock, valued at approximately $2,017,657.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David E. Oreilly sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $250.56, for a total value of $6,264,000.00. Following the sale, the chairman now directly owns 145,568 shares in the company, valued at $36,473,518.08. The disclosure for this sale can be found here. Insiders have sold a total of 27,080 shares of company stock worth $6,704,107 over the last ninety days. Insiders own 3.12% of the company’s stock.
About O’Reilly Automotive
O’Reilly Automotive, Inc is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States. The Company sells its products to both do-it-yourself (DIY) and professional service provider customers. The Company’s product line includes new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature control, chassis parts, driveline parts and engine parts; maintenance items, such as oil, antifreeze, fluids, filters, wiper blades, lighting, engine additives and appearance products, and accessories, such as floor mats, seat covers and truck accessories.
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