Adage Capital Partners GP L.L.C. Reduces Stake in LKQ Corporation $LKQ

Adage Capital Partners GP L.L.C. trimmed its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 47.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,300 shares of the auto parts company's stock after selling 115,600 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in LKQ were worth $5,415,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in LKQ during the 1st quarter valued at approximately $30,000. Banque Cantonale Vaudoise acquired a new stake in LKQ during the first quarter worth about $40,000. UMB Bank n.a. increased its position in shares of LKQ by 104.8% during the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock valued at $42,000 after acquiring an additional 500 shares during the last quarter. Horizon Financial Services LLC acquired a new stake in shares of LKQ during the first quarter valued at about $42,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of LKQ by 299.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock valued at $48,000 after acquiring an additional 851 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LKQ. Robert W. Baird decreased their price target on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Barrington Research restated an "outperform" rating and set a $60.00 price objective on shares of LKQ in a research report on Tuesday, July 22nd. Finally, Wall Street Zen downgraded shares of LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, LKQ has an average rating of "Buy" and a consensus price target of $49.50.

LKQ Stock Down 1.3%

Shares of NASDAQ:LKQ traded down $0.43 during mid-day trading on Friday, reaching $32.50. 431,636 shares of the stock were exchanged, compared to its average volume of 2,769,117. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The company has a market cap of $8.36 billion, a P/E ratio of 11.90 and a beta of 0.90. LKQ Corporation has a one year low of $28.92 and a one year high of $44.82. The stock's 50 day simple moving average is $33.15 and its 200-day simple moving average is $37.88.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). LKQ had a return on equity of 13.85% and a net margin of 5.04%.The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The firm's quarterly revenue was down 1.6% compared to the same quarter last year. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. As a group, equities research analysts predict that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.20 dividend on an annualized basis and a yield of 3.7%. LKQ's payout ratio is currently 43.96%.

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.