LKQ Corporation (NASDAQ:LKQ) Stock Holdings Cut by Forsta AP Fonden

Key Points

• Forsta AP Fonden reduced its holdings in LKQ Corporation by 13.6%, selling 10,100 shares to own 64,100 shares valued at approximately $2.73 million.
• Analysts have mixed sentiments on LKQ, with Robert W. Baird lowering its target price from $48.00 to $42.00 while Barrington Research maintains a target of $60.00, giving LKQ an average rating of "Moderate Buy".
• The company recently declared a quarterly dividend of $0.30 per share, representing a 4.1% dividend yield with an ex-dividend date of August 14th.

Forsta AP Fonden reduced its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 13.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 64,100 shares of the auto parts company's stock after selling 10,100 shares during the quarter. Forsta AP Fonden's holdings in LKQ were worth $2,727,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. boosted its stake in shares of 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 worth $799,000 after acquiring an additional 286 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of LKQ by 1.0% during the 4th quarter. Bank of Nova Scotia now owns 34,192 shares of the auto parts company's stock worth $1,257,000 after acquiring an additional 331 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of LKQ by 0.5% during the 4th quarter. MetLife Investment Management LLC now owns 68,790 shares of the auto parts company's stock worth $2,528,000 after acquiring an additional 352 shares in the last quarter. United Capital Financial Advisors LLC boosted its stake in shares of LKQ by 6.3% during the 4th quarter. United Capital Financial Advisors LLC now owns 6,436 shares of the auto parts company's stock worth $237,000 after acquiring an additional 382 shares in the last quarter. Finally, Wahed Invest LLC boosted its stake in shares of LKQ by 6.4% during the 4th quarter. Wahed Invest LLC now owns 6,779 shares of the auto parts company's stock worth $249,000 after acquiring an additional 405 shares in the last quarter. 95.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LKQ shares. Robert W. Baird reduced their target price on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Barrington Research restated an "outperform" rating and issued a $60.00 target price on shares of LKQ in a report on Tuesday, July 22nd. Finally, Wall Street Zen lowered LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, LKQ presently has an average rating of "Moderate Buy" and a consensus price target of $51.40.

LKQ Trading Down 0.7%

LKQ stock opened at $29.24 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 0.69. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 10.71 and a beta of 0.92. LKQ Corporation has a one year low of $28.92 and a one year high of $44.82. The company's fifty day moving average price is $36.10 and its two-hundred day moving average price is $38.95.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $3.64 billion during 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 company's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. On average, analysts forecast that LKQ Corporation will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 14th. LKQ's dividend payout ratio (DPR) is currently 43.96%.

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.

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