Inlet Private Wealth LLC Has $659,000 Holdings in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Inlet Private Wealth LLC significantly reduced its holdings in LKQ Corporation by 81.8%, selling 69,575 shares and leaving it with 15,500 shares worth $659,000.
• The company's recent quarterly earnings showed an EPS of $0.87, which missed estimates and represented a decline from the previous year's EPS of $0.98, while revenue decreased by 1.6% year-over-year.
• LKQ announced a quarterly dividend of $0.30 per share, amounting to a 3.73% yield, with the ex-dividend date set for August 14th.

Inlet Private Wealth LLC cut its holdings in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 81.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,500 shares of the auto parts company's stock after selling 69,575 shares during the period. Inlet Private Wealth LLC's holdings in LKQ were worth $659,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in LKQ by 11.5% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 370,619 shares of the auto parts company's stock valued at $15,766,000 after purchasing an additional 38,178 shares during the period. Empirical Finance LLC boosted its stake in LKQ by 6.5% during the 1st quarter. Empirical Finance LLC now owns 9,632 shares of the auto parts company's stock worth $410,000 after acquiring an additional 587 shares during the last quarter. Heartland Advisors Inc. acquired a new position in LKQ during the first quarter valued at approximately $7,494,000. Private Management Group Inc. increased its stake in LKQ by 12.9% in the first quarter. Private Management Group Inc. now owns 995,065 shares of the auto parts company's stock valued at $42,330,000 after purchasing an additional 113,740 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its stake in LKQ by 617.5% in the first quarter. Avantax Advisory Services Inc. now owns 62,232 shares of the auto parts company's stock valued at $2,647,000 after purchasing an additional 53,559 shares in the last quarter. 95.63% of the stock is currently owned by institutional investors and hedge funds.

LKQ Stock Up 1.4%

Shares of LKQ stock opened at $32.17 on Monday. The firm has a fifty day moving average of $38.46 and a 200-day moving average of $39.58. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. LKQ Corporation has a 12-month low of $30.06 and a 12-month high of $44.82. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 11.78 and a beta of 0.95.

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 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 company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm's revenue was down 1.6% on a year-over-year basis. As a group, equities research analysts predict that LKQ Corporation will post 3.57 earnings per share for the current fiscal year.

LKQ Dividend Announcement

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. This represents a $1.20 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Thursday, August 14th. LKQ's dividend payout ratio is 43.96%.

Insider Activity

In other news, Director Dominick P. Zarcone sold 5,000 shares of LKQ stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $38.02, for a total value of $190,100.00. Following the sale, the director directly owned 316,135 shares in the company, valued at $12,019,452.70. This trade represents 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 available at the SEC website. 0.47% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen downgraded shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Barrington Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of LKQ in a research note on Tuesday, July 22nd. Finally, Robert W. Baird lowered their target price on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, LKQ has an average rating of "Moderate Buy" and a consensus target price of $51.40.

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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