Welch & Forbes LLC Sells 60,938 Shares of O’Reilly Automotive, Inc. $ORLY

Welch & Forbes LLC lowered its holdings in O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,884,906 shares of the specialty retailer’s stock after selling 60,938 shares during the period. O’Reilly Automotive accounts for 3.7% of Welch & Forbes LLC’s investment portfolio, making the stock its 4th biggest position. Welch & Forbes LLC owned about 0.34% of O’Reilly Automotive worth $311,022,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ORLY. Vanguard Group Inc. increased its stake in shares of O’Reilly Automotive by 1,404.9% during the 2nd quarter. Vanguard Group Inc. now owns 78,834,967 shares of the specialty retailer’s stock valued at $7,105,396,000 after acquiring an additional 73,596,571 shares during the last quarter. State Street Corp grew its holdings in O’Reilly Automotive by 1,424.2% in the second quarter. State Street Corp now owns 37,179,783 shares of the specialty retailer’s stock valued at $3,351,014,000 after purchasing an additional 34,740,553 shares during the period. Geode Capital Management LLC increased its position in O’Reilly Automotive by 1,443.1% during the second quarter. Geode Capital Management LLC now owns 23,679,108 shares of the specialty retailer’s stock worth $2,130,866,000 after purchasing an additional 22,144,563 shares during the last quarter. Bank of New York Mellon Corp raised its stake in O’Reilly Automotive by 1,317.8% during the second quarter. Bank of New York Mellon Corp now owns 17,651,104 shares of the specialty retailer’s stock worth $1,590,894,000 after purchasing an additional 16,406,181 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of O’Reilly Automotive by 1,820.9% in the 2nd quarter. Jennison Associates LLC now owns 14,116,976 shares of the specialty retailer’s stock valued at $1,272,363,000 after purchasing an additional 13,382,074 shares during the last quarter. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at O’Reilly Automotive

In other news, SVP Christopher Andrew Mancini sold 2,355 shares of O’Reilly Automotive stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $101.31, for a total transaction of $238,585.05. Following the sale, the senior vice president owned 28 shares in the company, valued at $2,836.68. This trade represents a 98.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Philip M. Hopper sold 3,500 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $101.25, for a total transaction of $354,375.00. Following the transaction, the senior vice president directly owned 4,792 shares in the company, valued at approximately $485,190. The trade was a 42.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,980 shares of company stock valued at $882,335 over the last 90 days. 1.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James Financial upgraded O’Reilly Automotive from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Wednesday, November 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $111.00 price target (up previously from $110.00) on shares of O’Reilly Automotive in a research report on Friday. Wolfe Research upgraded O’Reilly Automotive from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Mizuho set a $112.00 price objective on O’Reilly Automotive in a research note on Monday, October 20th. Finally, Truist Financial set a $109.00 target price on shares of O’Reilly Automotive in a research report on Friday, October 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $111.85.

O’Reilly Automotive Stock Performance

ORLY stock opened at $98.41 on Friday. The firm has a market cap of $83.07 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 2.10 and a beta of 0.63. O’Reilly Automotive, Inc. has a 1 year low of $85.55 and a 1 year high of $108.71. The stock has a 50-day simple moving average of $95.49 and a 200-day simple moving average of $99.01.

O’Reilly Automotive Profile

O’Reilly Automotive, Inc is a leading retailer and distributor in the automotive aftermarket, supplying parts, tools, supplies and accessories for both professional service providers and do‑it‑yourself (DIY) customers. The company’s product assortment covers replacement parts, maintenance items, performance parts, collision components and shop equipment, complemented by diagnostic tools, batteries, chemicals and consumables. O’Reilly serves customers through company-operated retail stores, commercial sales programs for repair shops and maintenance fleets, and digital channels that support parts lookup, ordering and fulfillment.

The company operates a broad supply chain that includes regional distribution centers to support rapid replenishment of store inventory and commercial deliveries.