Brandywine Global Investment Management LLC Purchases New Shares in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Brandywine Global Investment Management LLC has acquired a new stake in LKQ Corporation, purchasing 156,791 shares valued at approximately $6.67 million during the first quarter.
• LKQ reported a quarterly earnings per share (EPS) of $0.87, missing expectations of $0.93, with a revenue of $3.64 billion despite a 1.6% decline year-over-year.
• The company declared a quarterly dividend of $0.30 per share, which represents an annualized dividend yield of 3.9% with a payout ratio of 43.96%.

Brandywine Global Investment Management LLC purchased a new stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 156,791 shares of the auto parts company's stock, valued at approximately $6,670,000. Brandywine Global Investment Management LLC owned 0.06% of LKQ as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new stake in LKQ during the 1st quarter valued at $321,000. Goodman Financial Corp raised its holdings in LKQ by 2.8% during the 1st quarter. Goodman Financial Corp now owns 317,305 shares of the auto parts company's stock valued at $13,498,000 after buying an additional 8,502 shares during the period. Teacher Retirement System of Texas purchased a new stake in LKQ during the 1st quarter valued at $1,618,000. PNC Financial Services Group Inc. raised its holdings in LKQ by 20.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 65,319 shares of the auto parts company's stock valued at $2,779,000 after buying an additional 10,909 shares during the period. Finally, Amalgamated Bank raised its holdings in LKQ by 1.6% during the 1st quarter. Amalgamated Bank now owns 50,851 shares of the auto parts company's stock valued at $2,163,000 after buying an additional 801 shares during the period. Hedge funds and other institutional investors own 95.63% of the company's stock.

LKQ Stock Performance

LKQ stock opened at $30.97 on Friday. 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 business's fifty day simple moving average is $35.42 and its two-hundred day simple moving average is $38.75. LKQ Corporation has a twelve month low of $28.92 and a twelve month high of $44.82. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 11.34 and a beta of 0.92.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings results 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 period in the previous year, the company posted $0.98 EPS. LKQ's quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict that LKQ Corporation will post 3.57 earnings per share for the current year.

LKQ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.9%. LKQ's dividend payout ratio is presently 43.96%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LKQ. Barrington Research restated an "outperform" rating and set a $60.00 price target on shares of LKQ in a report on Tuesday, July 22nd. Wall Street Zen lowered LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird reduced their target price on LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.40.

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.

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