State of Michigan Retirement System Reduces Stake in O’Reilly Automotive, Inc. (NASDAQ:ORLY)

State of Michigan Retirement System cut its stake in O’Reilly Automotive, Inc. (NASDAQ:ORLY) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 15,663 shares of the specialty retailer’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in O’Reilly Automotive were worth $18,573,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. AlphaMark Advisors LLC purchased a new stake in shares of O’Reilly Automotive in the fourth quarter valued at about $30,000. Darwin Wealth Management LLC acquired a new position in O’Reilly Automotive in the 3rd quarter valued at about $32,000. Kestra Investment Management LLC purchased a new stake in shares of O’Reilly Automotive in the 4th quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of O’Reilly Automotive during the 3rd quarter worth approximately $37,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of O’Reilly Automotive during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 85.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Morgan Stanley upgraded O’Reilly Automotive from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $1,150.00 to $1,450.00 in a research report on Tuesday, January 21st. Mizuho increased their price target on O’Reilly Automotive from $1,305.00 to $1,400.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. DA Davidson boosted their price objective on shares of O’Reilly Automotive from $1,450.00 to $1,525.00 and gave the company a “buy” rating in a report on Friday, February 7th. Guggenheim upped their target price on shares of O’Reilly Automotive from $1,400.00 to $1,475.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Barclays lifted their price target on shares of O’Reilly Automotive from $1,110.00 to $1,250.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,390.81.

Insiders Place Their Bets

In other O’Reilly Automotive news, CEO Brad W. Beckham sold 833 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $1,300.00, for a total value of $1,082,900.00. Following the sale, the chief executive officer now directly owns 760 shares in the company, valued at $988,000. This trade represents a 52.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason Lee Tarrant sold 1,992 shares of O’Reilly Automotive stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $1,339.10, for a total value of $2,667,487.20. Following the sale, the executive vice president now directly owns 1,398 shares of the company’s stock, valued at $1,872,061.80. This trade represents a 58.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,894 shares of company stock worth $10,409,618 in the last 90 days. Corporate insiders own 1.55% of the company’s stock.

O’Reilly Automotive Trading Down 1.4 %

Shares of NASDAQ ORLY opened at $1,356.77 on Wednesday. O’Reilly Automotive, Inc. has a 12-month low of $947.49 and a 12-month high of $1,389.05. The stock has a market cap of $78.33 billion, a P/E ratio of 33.37, a PEG ratio of 2.34 and a beta of 0.94. The business’s fifty day simple moving average is $1,270.67 and its 200-day simple moving average is $1,214.35.

O’Reilly Automotive (NASDAQ:ORLY) last announced its quarterly earnings data on Wednesday, February 5th. The specialty retailer reported $9.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.73 by $0.23. O’Reilly Automotive had a negative return on equity of 166.88% and a net margin of 14.28%. On average, equities analysts forecast that O’Reilly Automotive, Inc. will post 43.94 EPS for the current fiscal year.

O’Reilly Automotive Company 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.