Federated Hermes Inc. Has $22.84 Million Stock Position in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Federated Hermes Inc. reduced its stake in LKQ Corporation by 62.5%, selling 895,571 shares and now holds 536,876 shares valued at approximately $22.84 million.
• LKQ's recent quarterly earnings report indicated a miss on EPS estimates with earnings of $0.87 per share against an expected $0.93, despite revenue beating expectations at $3.64 billion.
• The company announced a quarterly dividend of $0.30 per share, which translates to an annual yield of 4.1%, with the payout ratio currently at 43.96%.

Federated Hermes Inc. decreased its position in LKQ Corporation (NASDAQ:LKQ - Free Report) by 62.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 536,876 shares of the auto parts company's stock after selling 895,571 shares during the quarter. Federated Hermes Inc. owned about 0.21% of LKQ worth $22,839,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of LKQ by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,591,553 shares of the auto parts company's stock valued at $241,643,000 after purchasing an additional 48,813 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of LKQ by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,571,136 shares of the auto parts company's stock valued at $204,739,000 after purchasing an additional 1,171,481 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of LKQ by 25.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,231,940 shares of the auto parts company's stock valued at $192,268,000 after purchasing an additional 1,053,001 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in LKQ in the 4th quarter worth about $165,548,000. Finally, EdgePoint Investment Group Inc. purchased a new stake in LKQ in the 4th quarter worth about $160,339,000. Institutional investors and hedge funds own 95.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird reduced their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Barrington Research reissued an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a research note on Tuesday, July 22nd. Finally, Wall Street Zen downgraded 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.40.

LKQ Stock Up 0.6%

Shares of NASDAQ LKQ traded up $0.17 during mid-day trading on Friday, reaching $29.64. 3,601,368 shares of the company traded hands, compared to its average volume of 3,197,018. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.81. The stock has a market cap of $7.63 billion, a PE ratio of 10.86 and a beta of 0.92. The company's fifty day moving average is $37.39 and its two-hundred day moving average is $39.33. LKQ Corporation has a fifty-two week low of $29.02 and a fifty-two week 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 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The company had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The business's revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. On average, analysts expect that LKQ Corporation will post 3.57 earnings per share for the current year.

LKQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a $0.30 dividend. 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 4.0%. LKQ's dividend payout ratio (DPR) is 43.96%.

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.