American International Group Inc. increased its stake in O’Reilly Automotive Inc (NASDAQ:ORLY) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,432 shares of the specialty retailer’s stock after acquiring an additional 1,282 shares during the quarter. American International Group Inc.’s holdings in O’Reilly Automotive were worth $13,696,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of ORLY. Centaurus Financial Inc. acquired a new position in O’Reilly Automotive in the second quarter valued at approximately $112,000. San Francisco Sentry Investment Group CA acquired a new position in O’Reilly Automotive in the third quarter valued at approximately $119,000. HighPoint Advisor Group LLC acquired a new position in O’Reilly Automotive in the third quarter valued at approximately $182,000. Checchi Capital Advisers LLC acquired a new position in O’Reilly Automotive in the second quarter valued at approximately $204,000. Finally, North American Management Corp acquired a new position in O’Reilly Automotive in the third quarter valued at approximately $204,000. 85.89% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on the company. Zacks Investment Research lowered O’Reilly Automotive from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. BidaskClub raised O’Reilly Automotive from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 21st. Morgan Stanley boosted their price target on O’Reilly Automotive from $345.00 to $355.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 6th. Jefferies Financial Group upped their target price on O’Reilly Automotive from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Wells Fargo & Co upped their target price on O’Reilly Automotive from $345.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, October 26th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $340.63.
O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings results on Wednesday, October 24th. The specialty retailer reported $4.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.31 by $0.19. O’Reilly Automotive had a return on equity of 259.86% and a net margin of 14.09%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.49 billion. On average, equities analysts anticipate that O’Reilly Automotive Inc will post 16.1 EPS for the current year.
O’Reilly Automotive declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 13th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, SVP Jeremy Adam Fletcher sold 2,500 shares of the company’s stock in a transaction on Friday, August 31st. The stock was sold at an average price of $335.00, for a total transaction of $837,500.00. Following the completion of the sale, the senior vice president now owns 3,428 shares in the company, valued at $1,148,380. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey Alan Lauro sold 12,526 shares of the company’s stock in a transaction on Friday, November 9th. The stock was sold at an average price of $351.06, for a total value of $4,397,377.56. The disclosure for this sale can be found here. Corporate insiders own 3.12% of the company’s stock.
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About O’Reilly Automotive
O'Reilly Automotive, Inc, together with its subsidiaries, engages in the retail of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States. The company provides new and remanufactured automotive hard parts, such as alternators, starters, fuel pumps, water pumps, brake system components, batteries, belts, hoses, temperature controls, chassis parts, driveline parts, and engine parts; maintenance items comprising oil, antifreeze products, fluids, filters, wiper blades, lighting products, engine additives, and appearance products; and accessories, such as floor mats, seat covers, and truck accessories.
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