Deutsche Bank AG Trims Stake in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Deutsche Bank AG reduced its stake in LKQ Corporation by 18.5%, holding 1,333,819 shares valued at approximately $56.7 million after selling 303,178 shares in the first quarter.
• The company reported EPS of $0.87 for the last quarter, missing estimates by $0.06, with revenue of $3.64 billion, which was slightly above expectations.
• LKQ Corporation announced a quarterly dividend of $0.30 per share, resulting in an annualized yield of 4.1% and a payout ratio of approximately 43.96%.

Deutsche Bank AG trimmed its holdings in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 18.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,333,819 shares of the auto parts company's stock after selling 303,178 shares during the quarter. Deutsche Bank AG owned about 0.52% of LKQ worth $56,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LKQ. Fuller & Thaler Asset Management Inc. purchased a new position in LKQ during the fourth quarter worth about $165,548,000. EdgePoint Investment Group Inc. purchased a new position in shares of LKQ in the 4th quarter worth about $160,339,000. Eminence Capital LP purchased a new position in shares of LKQ in the 4th quarter worth about $68,944,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of LKQ by 336.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,432,724 shares of the auto parts company's stock worth $52,653,000 after purchasing an additional 1,104,431 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of LKQ in the 4th quarter worth about $40,363,000. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barrington Research reiterated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Tuesday, July 22nd. Wall Street Zen cut LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Robert W. Baird cut their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, July 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.40.

LKQ Trading Down 0.7%

NASDAQ LKQ opened at $29.24 on Tuesday. LKQ Corporation has a 1-year low of $28.92 and a 1-year high of $44.82. The company has a current ratio of 1.81, a quick ratio of 0.69 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $36.10 and a 200-day moving average of $38.95. The firm has a market cap of $7.52 billion, a PE ratio of 10.71 and a beta of 0.92.

LKQ (NASDAQ:LKQ - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. As a group, sell-side analysts forecast that LKQ Corporation will post 3.57 EPS for the current year.

LKQ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders 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 yield of 4.1%. LKQ's dividend payout ratio is presently 43.96%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.