Mackenzie Financial Corp Cuts Stock Holdings in O'Reilly Automotive, Inc. (NASDAQ:ORLY)

Key Points

• Mackenzie Financial Corp has reduced its stake in O'Reilly Automotive by 12.3%, now holding approximately 62,936 shares valued at around $90 million.
• Insider transactions include a significant sale by Director John Raymond Murphy, who sold 3,000 shares, reducing his position by 39.68%, and Senior VP Ramon Parises Odems, who sold 30,000 shares, a decrease of 99.21%.
• Analysts have increased their price targets for O'Reilly Automotive, with a consensus rating of "Buy" and an average target price now at $102.22.

Mackenzie Financial Corp lowered its stake in shares of O'Reilly Automotive, Inc. (NASDAQ:ORLY - Free Report) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,936 shares of the specialty retailer's stock after selling 8,803 shares during the period. Mackenzie Financial Corp owned 0.11% of O'Reilly Automotive worth $90,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in O'Reilly Automotive by 16.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,195 shares of the specialty retailer's stock worth $33,227,000 after buying an additional 3,272 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in O'Reilly Automotive by 33.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 583,812 shares of the specialty retailer's stock worth $836,357,000 after buying an additional 147,904 shares during the period. Summit X LLC lifted its holdings in O'Reilly Automotive by 96.1% during the first quarter. Summit X LLC now owns 15,536 shares of the specialty retailer's stock worth $22,255,000 after buying an additional 7,612 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in O'Reilly Automotive by 7.0% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 149,393 shares of the specialty retailer's stock worth $214,017,000 after buying an additional 9,741 shares during the period. Finally, Brookstone Capital Management purchased a new stake in O'Reilly Automotive during the first quarter worth $9,226,000. Hedge funds and other institutional investors own 85.00% of the company's stock.

Wall Street Analyst Weigh In

ORLY has been the subject of several analyst reports. Citigroup increased their price objective on O'Reilly Automotive from $104.00 to $114.00 and gave the company a "buy" rating in a report on Friday, July 25th. Morgan Stanley reiterated an "overweight" rating on shares of O'Reilly Automotive in a report on Thursday, April 24th. Evercore ISI increased their price objective on O'Reilly Automotive from $97.00 to $107.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Truist Financial increased their price objective on O'Reilly Automotive from $103.00 to $109.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. increased their price objective on O'Reilly Automotive from $101.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $102.22.

O'Reilly Automotive Price Performance

ORLY stock traded up $0.13 during trading on Friday, hitting $98.45. The stock had a trading volume of 1,855,153 shares, compared to its average volume of 5,694,997. O'Reilly Automotive, Inc. has a twelve month low of $73.11 and a twelve month high of $100.60. The stock has a market capitalization of $84.16 billion, a P/E ratio of 35.22, a PEG ratio of 2.63 and a beta of 0.58. The company's 50-day moving average price is $91.83 and its two-hundred day moving average price is $90.26.

O'Reilly Automotive (NASDAQ:ORLY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The specialty retailer reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $4.53 billion for the quarter, compared to analysts' expectations of $4.54 billion. O'Reilly Automotive had a negative return on equity of 181.53% and a net margin of 14.15%. O'Reilly Automotive's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $10.55 EPS. As a group, sell-side analysts expect that O'Reilly Automotive, Inc. will post 43.94 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John Raymond Murphy sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $91.93, for a total value of $275,800.00. Following the transaction, the director directly owned 4,560 shares in the company, valued at approximately $419,216. This represents a 39.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Najera Jose A. Montellano sold 285 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $90.13, for a total value of $25,686.29. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,840 shares of company stock valued at $6,421,556. 1.01% of the stock is currently owned by company insiders.

O'Reilly Automotive Profile

O'Reilly Automotive, Inc, together with its subsidiaries, operates as a retailer and supplier of automotive aftermarket parts, tools, supplies, equipment, and accessories in the United States, Puerto Rico, and Mexico. The company provides new and remanufactured automotive hard parts and maintenance items, such as alternators, batteries, brake system components, belts, chassis parts, driveline parts, engine parts, fuel pumps, hoses, starters, temperature control, water pumps, antifreeze, appearance products, engine additives, filters, fluids, lighting products, and oil and wiper blades; and accessories, including floor mats, seat covers, and truck accessories.