Engine Capital Management LP Boosts Stock Position in LKQ Co. (NASDAQ:LKQ)

Engine Capital Management LP increased its stake in shares of LKQ Co. (NASDAQ:LKQ - Free Report) by 263.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,396,614 shares of the auto parts company's stock after buying an additional 1,012,000 shares during the quarter. LKQ comprises approximately 9.4% of Engine Capital Management LP's holdings, making the stock its 3rd largest position. Engine Capital Management LP owned 0.54% of LKQ worth $51,326,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its stake in LKQ by 39.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 113,826 shares of the auto parts company's stock valued at $4,183,000 after acquiring an additional 32,300 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of LKQ by 336.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,432,724 shares of the auto parts company's stock valued at $52,653,000 after buying an additional 1,104,431 shares during the period. Deutsche Bank AG lifted its holdings in shares of LKQ by 42.8% in the fourth quarter. Deutsche Bank AG now owns 1,636,997 shares of the auto parts company's stock valued at $60,160,000 after buying an additional 490,502 shares during the period. Deprince Race & Zollo Inc. lifted its holdings in shares of LKQ by 19.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 291,479 shares of the auto parts company's stock valued at $10,712,000 after buying an additional 47,470 shares during the period. Finally, Eminence Capital LP acquired a new stake in shares of LKQ in the fourth quarter valued at $68,944,000. Institutional investors own 95.63% of the company's stock.

Insider Activity at LKQ

In other news, CEO Justin L. Jude bought 2,708 shares of the stock in a transaction dated Friday, April 25th. The stock was bought at an average cost of $36.99 per share, with a total value of $100,168.92. Following the purchase, the chief executive officer now owns 280,777 shares of the company's stock, valued at approximately $10,385,941.23. This represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dominick P. Zarcone sold 10,000 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $41.66, for a total value of $416,600.00. Following the completion of the transaction, the director now owns 359,462 shares in the company, valued at $14,975,186.92. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 45,000 shares of company stock worth $1,873,750 in the last 90 days. 0.55% of the stock is owned by company insiders.

LKQ Stock Down 0.1%

NASDAQ:LKQ traded down $0.03 during trading hours on Wednesday, hitting $42.05. 1,020,290 shares of the company's stock traded hands, compared to its average volume of 2,281,319. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.67 and a current ratio of 1.71. LKQ Co. has a twelve month low of $35.56 and a twelve month high of $46.64. The stock's fifty day moving average price is $40.94 and its two-hundred day moving average price is $39.24. The firm has a market cap of $10.86 billion, a P/E ratio of 16.05 and a beta of 0.98.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.58 billion. LKQ had a return on equity of 14.93% and a net margin of 4.81%. The business's revenue was down 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. On average, research analysts expect that LKQ Co. will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.20 annualized dividend and a yield of 2.85%. LKQ's payout ratio is 44.78%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LKQ shares. Barrington Research restated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Monday, April 21st. StockNews.com upgraded LKQ from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on LKQ from $48.00 to $49.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $52.60.

About LKQ

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.