Choreo LLC Sells 14,821 Shares of LKQ Corporation (NASDAQ:LKQ)

Key Points

• Choreo LLC reduced its stake in LKQ Corporation by 41.0%, selling 14,821 shares, leaving them with a total of 21,368 shares valued at $909,000.
• Several hedge funds, including LPL Financial and Mitsubishi UFJ Asset Management, have increased their investments in LKQ, with institutional investors now owning 95.63% of the company's stock.
• LKQ announced a quarterly dividend of $0.30 per share, with a dividend yield of 3.73%, which will be paid on August 28th.

Choreo LLC lessened its stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 41.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,368 shares of the auto parts company's stock after selling 14,821 shares during the period. Choreo LLC's holdings in LKQ were worth $909,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in shares of LKQ by 10.4% in the 4th quarter. LPL Financial LLC now owns 126,729 shares of the auto parts company's stock valued at $4,657,000 after purchasing an additional 11,975 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of LKQ by 21.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 440,244 shares of the auto parts company's stock valued at $16,109,000 after purchasing an additional 76,692 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of LKQ by 4.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,380,086 shares of the auto parts company's stock valued at $50,718,000 after purchasing an additional 64,639 shares during the last quarter. Elo Mutual Pension Insurance Co increased its stake in shares of LKQ by 24.0% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 29,159 shares of the auto parts company's stock valued at $1,072,000 after purchasing an additional 5,642 shares during the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in shares of LKQ by 24.1% in the 4th quarter. UniSuper Management Pty Ltd now owns 48,556 shares of the auto parts company's stock valued at $1,784,000 after purchasing an additional 9,434 shares during the last quarter. Institutional investors own 95.63% of the company's stock.

Wall Street Analysts Forecast Growth

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

LKQ Stock Up 1.4%

Shares of LKQ opened at $32.17 on Friday. The company has a market capitalization of $8.30 billion, a PE ratio of 11.78 and a beta of 0.95. The stock's 50-day moving average price is $38.46 and its two-hundred day moving average price is $39.56. The company has a current ratio of 1.81, a quick ratio of 0.56 and a debt-to-equity ratio of 0.67. LKQ Corporation has a 12 month low of $30.06 and a 12 month high of $44.82.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter last year, the business earned $0.98 earnings per share. LKQ's revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Announces Dividend

The business also recently disclosed 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 3.73%. LKQ's dividend payout ratio (DPR) is 43.96%.

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 value of $190,100.00. Following the transaction, the director directly owned 316,135 shares of the company's stock, valued at $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 is available through this link. 0.55% of the stock is owned by company insiders.

LKQ 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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