Studio Investment Management LLC Increases Stake in LKQ Co. (NASDAQ:LKQ)

by · The Markets Daily

Studio Investment Management LLC boosted its holdings in shares of LKQ Co. (NASDAQ:LKQ – Free Report) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,318 shares of the auto parts company’s stock after buying an additional 617 shares during the quarter. Studio Investment Management LLC’s holdings in LKQ were worth $412,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Seizert Capital Partners LLC increased its stake in shares of LKQ by 451.1% during the third quarter. Seizert Capital Partners LLC now owns 1,327,664 shares of the auto parts company’s stock worth $53,000,000 after buying an additional 1,086,758 shares during the period. Millennium Management LLC increased its position in shares of LKQ by 552.8% in the 2nd quarter. Millennium Management LLC now owns 1,236,158 shares of the auto parts company’s stock valued at $51,412,000 after purchasing an additional 1,046,805 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of LKQ by 7.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock worth $496,772,000 after purchasing an additional 875,420 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of LKQ by 39.8% during the second quarter. Cooke & Bieler LP now owns 3,067,772 shares of the auto parts company’s stock worth $127,589,000 after purchasing an additional 873,665 shares in the last quarter. Finally, Boston Partners increased its holdings in LKQ by 9.5% in the first quarter. Boston Partners now owns 8,220,571 shares of the auto parts company’s stock valued at $438,108,000 after buying an additional 712,698 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

LKQ Stock Performance

Shares of LKQ opened at $37.96 on Friday. The company’s 50 day simple moving average is $38.84 and its 200-day simple moving average is $40.88. LKQ Co. has a 12-month low of $35.57 and a 12-month high of $53.68. The firm has a market cap of $9.87 billion, a PE ratio of 14.16 and a beta of 1.29. The company has a current ratio of 1.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69.

LKQ (NASDAQ:LKQ – Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the business posted $0.86 earnings per share. LKQ’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that LKQ Co. will post 3.43 EPS for the current year.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.16%. LKQ’s dividend payout ratio (DPR) is currently 44.78%.

Analyst Ratings Changes

LKQ has been the subject of several analyst reports. Robert W. Baird lowered their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Stifel Nicolaus dropped their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Roth Mkm restated a “buy” rating and issued a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $60.00 target price on shares of LKQ in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.80.

Check Out Our Latest Stock Analysis on LKQ

LKQ Profile

(Free Report)

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; 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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