Korea Investment CORP Lowers Position in O’Reilly Automotive Inc (ORLY)

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Korea Investment CORP lowered its stake in shares of O’Reilly Automotive Inc (NASDAQ:ORLY) by 2.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,312 shares of the specialty retailer’s stock after selling 3,400 shares during the quarter. Korea Investment CORP’s holdings in O’Reilly Automotive were worth $39,206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in O’Reilly Automotive by 503.8% in the 2nd quarter. Victory Capital Management Inc. now owns 48,592 shares of the specialty retailer’s stock valued at $13,293,000 after purchasing an additional 40,544 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in O’Reilly Automotive by 4.1% in the 2nd quarter. Horrell Capital Management Inc. now owns 21,449 shares of the specialty retailer’s stock valued at $5,868,000 after purchasing an additional 844 shares in the last quarter. Madison Investment Holdings Inc. boosted its holdings in O’Reilly Automotive by 6.2% in the 2nd quarter. Madison Investment Holdings Inc. now owns 248,277 shares of the specialty retailer’s stock valued at $67,921,000 after purchasing an additional 14,576 shares in the last quarter. Bank of Montreal Can boosted its holdings in O’Reilly Automotive by 9.3% in the 2nd quarter. Bank of Montreal Can now owns 108,302 shares of the specialty retailer’s stock valued at $29,628,000 after purchasing an additional 9,185 shares in the last quarter. Finally, Meritage Portfolio Management purchased a new stake in O’Reilly Automotive in the 2nd quarter valued at approximately $6,070,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

ORLY stock opened at $343.78 on Wednesday. O’Reilly Automotive Inc has a 12-month low of $190.00 and a 12-month high of $345.36. The company has a debt-to-equity ratio of 8.45, a current ratio of 0.92 and a quick ratio of 0.11. The company has a market cap of $27.02 billion, a PE ratio of 29.04, a P/E/G ratio of 1.34 and a beta of 0.99.

O’Reilly Automotive (NASDAQ:ORLY) last issued its quarterly earnings data on Wednesday, July 25th. The specialty retailer reported $4.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.04 by $0.24. O’Reilly Automotive had a return on equity of 229.48% and a net margin of 13.42%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the firm posted $3.10 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. analysts forecast that O’Reilly Automotive Inc will post 15.9 earnings per share for the current year.

In related news, CFO Thomas Mcfall sold 30,000 shares of O’Reilly Automotive stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $305.21, for a total transaction of $9,156,300.00. Following the completion of the transaction, the chief financial officer now directly owns 35,438 shares in the company, valued at approximately $10,816,031.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brad W. Beckham sold 5,000 shares of O’Reilly Automotive stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $305.35, for a total value of $1,526,750.00. Following the transaction, the executive vice president now owns 5,428 shares of the company’s stock, valued at $1,657,439.80. The disclosure for this sale can be found here. Insiders have sold a total of 246,427 shares of company stock valued at $74,564,210 over the last 90 days. Insiders own 3.07% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Oppenheimer lifted their price target on shares of O’Reilly Automotive from $305.00 to $360.00 and gave the company an “outperform” rating in a research report on Wednesday, August 8th. Wells Fargo & Co reiterated a “buy” rating and set a $345.00 price target on shares of O’Reilly Automotive in a research report on Tuesday, August 7th. BidaskClub upgraded shares of O’Reilly Automotive from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 7th. ValuEngine upgraded shares of O’Reilly Automotive from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Royal Bank of Canada lifted their price target on shares of O’Reilly Automotive to $335.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $318.69.

O’Reilly Automotive Profile

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.

Further Reading: NASDAQ Stock Market Explained

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Institutional Ownership by Quarter for O`Reilly Automotive (NASDAQ:ORLY)

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