LKQ Corporation (NASDAQ:LKQ) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 48.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,172,272 shares of the auto parts company's stock after buying an additional 711,077 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.84% of LKQ worth $92,408,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of LKQ by 1.5% during the 1st 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 during the last quarter. Bank of Nova Scotia raised its stake in shares of LKQ by 1.0% during 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 stake 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 worth $2,528,000 after buying an additional 352 shares during the last quarter. United Capital Financial Advisors LLC raised its stake in shares of 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 buying an additional 382 shares during the last quarter. Finally, Wahed Invest LLC raised its stake in shares of LKQ by 6.4% during the 4th quarter. Wahed Invest LLC now owns 6,779 shares of the auto parts company's stock worth $249,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company's stock.

LKQ Price Performance

LKQ stock traded down $0.61 during trading on Friday, hitting $38.60. The stock had a trading volume of 2,159,449 shares, compared to its average volume of 2,309,815. The company's 50 day moving average price is $39.33 and its two-hundred day moving average price is $39.54. LKQ Corporation has a 1-year low of $35.56 and a 1-year high of $46.64. The stock has a market cap of $9.96 billion, a price-to-earnings ratio of 14.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.56 and a current ratio of 1.52.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The auto parts company reported $0.79 EPS for the quarter, meeting the consensus estimate of $0.79. The company had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.58 billion. LKQ had a return on equity of 14.66% and a net margin of 4.97%. The firm's revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. On average, sell-side analysts forecast that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend was Thursday, May 15th. LKQ's dividend payout ratio (DPR) is 44.78%.

Analyst Ratings Changes

LKQ has been the subject of several research reports. Barrington Research reaffirmed an "outperform" rating and set a $60.00 price target on shares of LKQ in a research note on Monday, April 21st. Wall Street Zen downgraded shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $52.60.

Insider Activity

In other news, Director Dominick P. Zarcone sold 5,000 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $38.02, for a total transaction of $190,100.00. Following the completion of the sale, the director owned 316,135 shares in the company, valued at approximately $12,019,452.70. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Justin L. Jude bought 2,708 shares of the firm's stock in a transaction dated Friday, April 25th. The shares were purchased at an average price of $36.99 per share, with a total value of $100,168.92. Following the acquisition, the chief executive officer directly owned 280,777 shares in the company, valued at approximately $10,385,941.23. This trade represents a 0.97% increase in their position. The disclosure for this purchase can be found here. 0.55% of the stock is owned by insiders.

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.