Bank of America Corp DE Takes Position in LKQ Corporation $LKQ

Key Points

• Bank of America initiated a position in LKQ, purchasing 2.21 million shares worth approximately $58.2 million, or about 0.87% of the company. Institutional investors collectively own 95.63% of LKQ.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $31.08. Recent targets range from $25 to $35, while Weiss Ratings downgraded the stock to “sell.”
• LKQ’s latest quarter missed expectations, reporting $0.67 in EPS and $3.41 billion in revenue, with revenue down 3% year over year. The company also pays a quarterly dividend of $0.30, equivalent to a 5.2% annualized yield.

Bank of America Corp DE bought a new position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,211,196 shares of the auto parts company's stock, valued at approximately $58,221,000. Bank of America Corp DE owned about 0.87% of LKQ at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LKQ. BlackRock Inc. acquired a new position in LKQ during the second quarter worth approximately $1,015,096,000. Lakewood Capital Management LP acquired a new stake in shares of LKQ in the second quarter valued at approximately $6,977,000. Applied Finance Capital Management LLC boosted its stake in shares of LKQ by 11.0% during the 1st quarter. Applied Finance Capital Management LLC now owns 662,216 shares of the auto parts company's stock worth $19,449,000 after acquiring an additional 65,534 shares during the period. Rice Hall James & Associates LLC acquired a new position in shares of LKQ during the 2nd quarter worth approximately $17,859,000. Finally, Hsbc Holdings PLC acquired a new position in shares of LKQ during the 2nd quarter worth approximately $2,047,000. Institutional investors own 95.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on LKQ shares. Raymond James Financial set a $30.00 price target on LKQ in a report on Friday, July 31st. Barclays decreased their price objective on shares of LKQ from $30.00 to $25.00 and set an "equal weight" rating on the stock in a report on Monday, August 3rd. Weiss Ratings cut shares of LKQ from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. reduced their target price on shares of LKQ from $37.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Finally, Roth Capital set a $35.00 target price on LKQ in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $31.08.

LKQ Stock Performance

Shares of NASDAQ:LKQ opened at $23.30 on Monday. LKQ Corporation has a 1 year low of $21.17 and a 1 year high of $37.13. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 12.94 and a beta of 0.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 0.61. The company's 50 day simple moving average is $24.87 and its 200 day simple moving average is $26.94.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The auto parts company reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.04). LKQ had a return on equity of 10.84% and a net margin of 3.37%.The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period last year, the firm posted $0.87 EPS. LKQ's quarterly revenue was down 3.0% on a year-over-year basis. LKQ has set its FY 2026 guidance at 2.600-2.900 EPS. As a group, research analysts predict that LKQ Corporation will post 2.67 EPS for the current fiscal year.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 5.2%. LKQ's dividend payout ratio is 66.67%.

About LKQ

LKQ Corporation is a global distributor of replacement parts, components and accessories for automobiles, trucks and other vehicles. The company supplies collision and mechanical repair parts, recycled original equipment parts, remanufactured components, aftermarket products and specialty vehicle equipment to professional repair businesses, insurers, dealerships and other customers.

LKQ operates through a network of distribution centers, parts facilities, salvage yards and self-service locations.

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