Allianz Asset Management GmbH Acquires 30,684 Shares of LKQ Corporation (NASDAQ:LKQ)

Key Points

• Allianz Asset Management GmbH increased its stake in LKQ Corporation by 23.9% in the first quarter, acquiring an additional 30,684 shares, bringing its total ownership to 158,977 shares valued at approximately $6.76 million.
• Despite a recent decrease in stock prices, LKQ Corporation reported revenue of $3.64 billion in its latest quarter, slightly exceeding analysts' estimates but with earnings per share of $0.87, which fell short of the consensus estimate of $0.93.
• LKQ Corporation announced a quarterly dividend of $0.30, with an annualized yield of 3.81%, to be paid to investors of record on August 14th.

Allianz Asset Management GmbH boosted its holdings in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 23.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,977 shares of the auto parts company's stock after purchasing an additional 30,684 shares during the quarter. Allianz Asset Management GmbH owned about 0.06% of LKQ worth $6,763,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of LKQ by 1.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,774 shares of the auto parts company's stock worth $799,000 after buying an additional 286 shares in the last quarter. Bank of Nova Scotia boosted its stake in LKQ by 1.0% in the 4th quarter. Bank of Nova Scotia now owns 34,192 shares of the auto parts company's stock worth $1,257,000 after buying an additional 331 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of LKQ by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 68,790 shares of the auto parts company's stock valued at $2,528,000 after buying an additional 352 shares during the period. United Capital Financial Advisors LLC increased its holdings in LKQ by 6.3% during the 4th quarter. United Capital Financial Advisors LLC now owns 6,436 shares of the auto parts company's stock worth $237,000 after purchasing an additional 382 shares during the last quarter. Finally, Wahed Invest LLC increased its holdings in shares of LKQ by 6.4% in the 4th quarter. Wahed Invest LLC now owns 6,779 shares of the auto parts company's stock valued at $249,000 after acquiring an additional 405 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LKQ has been the subject of several recent analyst reports. Wall Street Zen downgraded LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Robert W. Baird reduced their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Finally, Barrington Research reaffirmed an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Tuesday, July 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.40.

LKQ Trading Down 1.1%

Shares of LKQ traded down $0.32 during mid-day trading on Thursday, reaching $29.80. The stock had a trading volume of 683,007 shares, compared to its average volume of 2,517,905. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 10.88 and a beta of 0.95. The business's fifty day moving average is $38.03 and its 200 day moving average is $39.48. LKQ Corporation has a 52-week low of $29.54 and a 52-week high of $44.82.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts predict that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Thursday, August 14th. LKQ's dividend payout ratio is presently 43.96%.

LKQ Company Profile

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.