New York State Teachers Retirement System Lowers Stock Holdings in LKQ Corporation (NASDAQ:LKQ)

New York State Teachers Retirement System cut its holdings in LKQ Corporation (NASDAQ:LKQ - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,445 shares of the auto parts company's stock after selling 12,302 shares during the period. New York State Teachers Retirement System owned about 0.06% of LKQ worth $6,910,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Proficio Capital Partners LLC bought a new position in LKQ during the fourth quarter valued at $556,000. US Bancorp DE grew its holdings in LKQ by 33.6% during the fourth quarter. US Bancorp DE now owns 30,255 shares of the auto parts company's stock valued at $1,112,000 after purchasing an additional 7,611 shares during the period. Jones Financial Companies Lllp grew its holdings in LKQ by 73.7% during the fourth quarter. Jones Financial Companies Lllp now owns 5,685 shares of the auto parts company's stock valued at $209,000 after purchasing an additional 2,413 shares during the period. State of Michigan Retirement System grew its holdings in LKQ by 1.5% during the fourth quarter. State of Michigan Retirement System now owns 86,783 shares of the auto parts company's stock valued at $3,189,000 after purchasing an additional 1,300 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in LKQ by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,572,676 shares of the auto parts company's stock valued at $94,546,000 after purchasing an additional 84,244 shares during the period. 95.63% of the stock is owned by institutional investors.

LKQ Trading Down 0.1%

Shares of NASDAQ:LKQ traded down $0.05 on Monday, reaching $38.63. 418,135 shares of the company traded hands, compared to its average volume of 2,299,344. The business's 50-day simple moving average is $39.27 and its 200 day simple moving average is $39.51. LKQ Corporation has a 52 week low of $35.56 and a 52 week high of $46.64. The stock has a market capitalization of $9.97 billion, a P/E ratio of 14.43 and a beta of 0.95. The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 0.62.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.79. LKQ had a return on equity of 14.66% and a net margin of 4.97%. The firm had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.58 billion. During the same period last year, the firm earned $0.82 earnings per share. The company's revenue for the quarter was down 6.5% compared to the same quarter last year. As a group, equities analysts anticipate 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 was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.11%. LKQ's payout ratio is presently 44.78%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Barrington Research restated an "outperform" rating and set a $60.00 target price on shares of LKQ in a research report on Monday, April 21st. Wall Street Zen cut LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.60.

Insider Activity

In related news, Director Dominick P. Zarcone sold 5,000 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was 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 of the company's stock, 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 through this link. Also, CEO Justin L. Jude bought 2,708 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average cost of $36.99 per share, for a total transaction of $100,168.92. Following the completion of the purchase, the chief executive officer directly owned 280,777 shares of the company's stock, valued at $10,385,941.23. The trade was a 0.97% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.47% of the stock is owned by company insiders.

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.