Heartland Advisors Inc. Takes Position in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Heartland Advisors Inc. acquired a new stake in LKQ Corporation, purchasing 176,171 shares valued at approximately $7.5 million, indicating continued institutional interest in the auto parts company.
• Analysts have mixed ratings on LKQ, with one brokerage downgrading the stock from a "buy" to a "hold," while the consensus rating remains a "Moderate Buy" with a target price of $51.40.
• LKQ announced a quarterly dividend of $0.30 per share, representing a yield of 3.73%, with the ex-dividend date set for August 14th.

Heartland Advisors Inc. bought a new position in LKQ Corporation (NASDAQ:LKQ - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 176,171 shares of the auto parts company's stock, valued at approximately $7,494,000. Heartland Advisors Inc. owned approximately 0.07% of LKQ as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. UMB Bank n.a. boosted its position in LKQ by 104.8% in the first quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after purchasing an additional 500 shares during the last quarter. Horizon Financial Services LLC purchased a new position in LKQ in the first quarter worth $42,000. Bruce G. Allen Investments LLC boosted its position in LKQ by 299.6% in the first quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock worth $48,000 after purchasing an additional 851 shares during the last quarter. Whittier Trust Co. boosted its position in LKQ by 70.9% in the first quarter. Whittier Trust Co. now owns 1,707 shares of the auto parts company's stock worth $73,000 after purchasing an additional 708 shares during the last quarter. Finally, Private Trust Co. NA boosted its position in LKQ by 30.2% in the first quarter. Private Trust Co. NA now owns 1,847 shares of the auto parts company's stock worth $79,000 after purchasing an additional 428 shares during the last quarter. Institutional investors and hedge funds own 95.63% of the company's stock.

Insider Activity at LKQ

In related news, Director Dominick P. Zarcone sold 5,000 shares of LKQ stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $38.02, for a total transaction of $190,100.00. Following the transaction, the director directly owned 316,135 shares in the company, valued at approximately $12,019,452.70. The trade was a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% of the company's stock.

LKQ Price Performance

Shares of LKQ traded down $1.02 during midday trading on Tuesday, reaching $30.47. The stock had a trading volume of 4,504,664 shares, compared to its average volume of 2,515,808. The company's 50-day moving average is $38.25 and its 200 day moving average is $39.54. LKQ Corporation has a 12-month low of $30.06 and a 12-month 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 company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 11.16 and a beta of 0.95.

LKQ (NASDAQ:LKQ - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.87 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.06). LKQ had a return on equity of 13.85% and a net margin of 5.04%. The business had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.62 billion. During the same quarter last year, the business posted $0.98 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that LKQ Corporation will post 3.57 EPS for the current fiscal 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. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Thursday, August 14th. LKQ's payout ratio is 43.96%.

Analysts Set New Price Targets

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

About LKQ

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.