Bank of New York Mellon Corp Purchases New Stake in LKQ Corporation $LKQ

Key Points

• Bank of New York Mellon acquired 2.9 million LKQ shares worth approximately $76.3 million, representing about 1.15% of the company. Institutional investors collectively own 95.63% of LKQ.
• LKQ shares opened at $25.37, while the company’s latest quarterly results missed expectations: adjusted EPS was $0.67 versus a $0.71 consensus, and revenue declined 3% year over year to $3.41 billion.
• Analysts have a consensus “Hold” rating with a $31.08 price target. LKQ also declared a quarterly dividend of $0.30 per share, equivalent to a 4.7% annualized yield.

Bank of New York Mellon Corp purchased a new stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,899,476 shares of the auto parts company's stock, valued at approximately $76,343,000. Bank of New York Mellon Corp owned approximately 1.15% of LKQ as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Seizert Capital Partners LLC lifted its holdings in shares of LKQ by 30.1% during the 4th quarter. Seizert Capital Partners LLC now owns 2,178,703 shares of the auto parts company's stock valued at $65,797,000 after acquiring an additional 503,998 shares in the last quarter. Applied Finance Capital Management LLC raised its position in LKQ by 11.0% in the first quarter. Applied Finance Capital Management LLC now owns 662,216 shares of the auto parts company's stock valued at $19,449,000 after purchasing an additional 65,534 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of LKQ by 41.2% during the third quarter. Kennedy Capital Management LLC now owns 314,467 shares of the auto parts company's stock worth $9,604,000 after purchasing an additional 91,776 shares in the last quarter. Rathbones Group PLC lifted its stake in shares of LKQ by 6.4% during the fourth quarter. Rathbones Group PLC now owns 182,494 shares of the auto parts company's stock worth $5,511,000 after purchasing an additional 10,983 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of LKQ by 4.7% in the first quarter. Sound Income Strategies LLC now owns 148,282 shares of the auto parts company's stock worth $4,346,000 after buying an additional 6,609 shares during the period. Institutional investors and hedge funds own 95.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Roth Capital set a $35.00 target price on LKQ in a report on Monday, August 3rd. Robert W. Baird set a $30.00 price objective on shares of LKQ in a research report on Friday, July 31st. Stephens reduced their target price on shares of LKQ from $39.00 to $36.50 and set an "overweight" rating on the stock in a research report on Tuesday, July 21st. JPMorgan Chase & Co. decreased their target price on shares of LKQ from $37.00 to $30.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Finally, Zacks Research lowered shares of LKQ from a "hold" rating to a "strong sell" rating in a report on Monday, August 3rd. Three 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, LKQ currently has a consensus rating of "Hold" and a consensus price target of $31.08.

LKQ Stock Down 1.4%

Shares of NASDAQ:LKQ opened at $25.37 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.61 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $25.39 and a 200 day simple moving average of $28.10. The firm has a market cap of $6.42 billion, a PE ratio of 14.09 and a beta of 0.84. LKQ Corporation has a 12-month low of $21.17 and a 12-month high of $37.13.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings data 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 net margin of 3.37% and a return on equity of 10.84%. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the company earned $0.87 earnings per share. The company's revenue was down 3.0% compared to the same quarter last year. LKQ has set its FY 2026 guidance at 2.600-2.900 EPS. On average, equities research analysts anticipate that LKQ Corporation will post 2.67 EPS for the current fiscal year.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 20th. This represents a $1.20 annualized dividend and a yield of 4.7%. LKQ's dividend payout ratio is presently 66.67%.

About LKQ

LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. The company supplies a broad range of replacement components, including recycled original equipment manufacturer (OEM) parts, aftermarket parts, refurbished and remanufactured items. Its products support collision repair, mechanical repair and performance enhancement needs across passenger cars, heavy trucks and recreational vehicles.

Through a combination of in-house operations and strategic acquisitions, LKQ has developed a comprehensive product portfolio that extends beyond core replacement parts.

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