Comerica Bank Buys 17,725 Shares of LKQ Corporation $LKQ

Key Points

• Comerica Bank increased its stake in LKQ Corporation by 14.5%, bringing its total ownership to approximately 0.05% of the company, worth about $5.9 million.
• LKQ reported $0.87 earnings per share for the last quarter, missing expectations, while its quarterly revenue was $3.64 billion, slightly above estimates but down 1.6% year-over-year.
• The company declared a quarterly dividend of $0.30, with a yield of 3.7% and a payout ratio of 43.96%.

Comerica Bank raised its stake in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 14.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,703 shares of the auto parts company's stock after purchasing an additional 17,725 shares during the quarter. Comerica Bank owned approximately 0.05% of LKQ worth $5,943,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its position in LKQ by 1.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,774 shares of the auto parts company's stock valued at $799,000 after purchasing an additional 286 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in LKQ by 10.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,062 shares of the auto parts company's stock valued at $173,000 after purchasing an additional 379 shares during the period. Smartleaf Asset Management LLC increased its position in LKQ by 13.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,348 shares of the auto parts company's stock valued at $139,000 after purchasing an additional 397 shares during the period. Wahed Invest LLC grew its position in shares of LKQ by 6.4% in the 4th quarter. Wahed Invest LLC now owns 6,779 shares of the auto parts company's stock worth $249,000 after buying an additional 405 shares during the period. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of LKQ by 2.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 20,016 shares of the auto parts company's stock worth $852,000 after buying an additional 405 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

LKQ Stock Up 0.1%

LKQ stock traded up $0.04 during mid-day trading on Wednesday, reaching $32.00. The stock had a trading volume of 822,749 shares, compared to its average volume of 2,766,200. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 11.73 and a beta of 0.90. The company has a 50-day moving average price of $33.89 and a two-hundred day moving average price of $38.25. LKQ Corporation has a one year low of $28.92 and a one year high of $44.82. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.62 billion. LKQ had a return on equity of 13.85% and a net margin of 5.04%.The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. On average, analysts expect that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, August 14th. This represents a $1.20 annualized dividend and a yield of 3.8%. LKQ's dividend payout ratio is currently 43.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LKQ shares. Wall Street Zen downgraded shares of LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Barrington Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of LKQ in a research report on Tuesday, July 22nd. Finally, Robert W. Baird reduced their target price on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, LKQ currently has an average rating of "Buy" and an average price target 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.