Posted by admin on Jul 27th, 2022

Park Avenue Securities LLC lifted its position in shares of LKQ Co. (NASDAQ:LKQ – Get Rating) by 11.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,569 shares of the auto parts company’s stock after purchasing an additional 785 shares during the period. Park Avenue Securities LLC’s holdings in LKQ were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of LKQ by 4.3% in the fourth quarter. BlackRock Inc. now owns 22,040,628 shares of the auto parts company’s stock worth $1,323,099,000 after acquiring an additional 907,227 shares during the period. State Street Corp grew its stake in LKQ by 4.4% in the 4th quarter. State Street Corp now owns 12,332,198 shares of the auto parts company’s stock valued at $740,302,000 after purchasing an additional 515,085 shares during the period. Allspring Global Investments Holdings LLC bought a new position in LKQ in the 4th quarter valued at $371,441,000. Lazard Asset Management LLC grew its stake in LKQ by 18.4% in the 4th quarter. Lazard Asset Management LLC now owns 5,835,394 shares of the auto parts company’s stock valued at $350,298,000 after purchasing an additional 907,640 shares during the period. Finally, Geode Capital Management LLC grew its stake in LKQ by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,812,305 shares of the auto parts company’s stock valued at $348,150,000 after purchasing an additional 69,123 shares during the period. 94.02% of the stock is currently owned by institutional investors.

Shares of LKQ opened at $52.17 on Wednesday. The stock’s 50-day simple moving average is $50.26 and its 200 day simple moving average is $50.00. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 13.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 1.88. LKQ Co. has a 52-week low of $42.36 and a 52-week high of $60.43.

LKQ (NASDAQ:LKQ – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.29 billion. LKQ had a return on equity of 20.19% and a net margin of 8.28%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 EPS. Research analysts forecast that LKQ Co. will post 3.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Investors of record on Thursday, May 19th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. LKQ’s dividend payout ratio (DPR) is 26.81%.

LKQ has been the subject of a number of recent analyst reports. Barrington Research upgraded LKQ from a “market perform” rating to an “outperform” rating in a research note on Thursday, April 28th. MKM Partners started coverage on LKQ in a research report on Wednesday, July 13th. They set a “buy” rating and a $68.00 price target on the stock. Raymond James dropped their price target on LKQ from $62.00 to $59.00 in a research report on Monday, April 11th. Finally, StockNews.com raised LKQ from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 21st. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $64.00.

In other LKQ news, Director Patrick Berard sold 702 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $49.72, for a total value of $34,903.44. Following the sale, the director now owns 11,806 shares of the company’s stock, valued at approximately $586,994.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other LKQ news, Director Patrick Berard sold 702 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $49.72, for a total value of $34,903.44. Following the sale, the director now owns 11,806 shares of the company’s stock, valued at approximately $586,994.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Holdings L.P. Valueact sold 5,000,000 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $50.35, for a total value of $251,750,000.00. Following the completion of the sale, the director now directly owns 12,552,751 shares in the company, valued at approximately $632,031,012.85. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

LKQ Corporation distributes replacement parts, components, and systems used in the repair and maintenance of vehicles. It operates through three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.

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