Raymond James Financial Inc. Purchases 468,132 Shares of LKQ Corporation $LKQ

Key Points

• Raymond James Financial Inc. significantly increased its stake in LKQ Corporation by 42.6%, acquiring an additional 468,132 shares, bringing its total ownership to 1,566,454 shares valued at approximately $66.6 million.
• The consensus rating for LKQ shares is currently categorized as a "Buy" with an average price target of $51.40, despite a recent price objective reduction by Robert W. Baird from $48.00 to $42.00.
• LKQ Corporation reported a quarterly earnings miss of $0.87 per share, falling short of estimates by $0.06, while its revenue for the quarter was $3.64 billion, slightly above expectations.

Raymond James Financial Inc. lifted its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 42.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,566,454 shares of the auto parts company's stock after purchasing an additional 468,132 shares during the quarter. Raymond James Financial Inc. owned 0.61% of LKQ worth $66,637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of LKQ by 14.8% during the first quarter. Dimensional Fund Advisors LP now owns 6,003,769 shares of the auto parts company's stock worth $255,384,000 after purchasing an additional 771,829 shares in the last quarter. Boston Partners raised its holdings in shares of LKQ by 258.0% during the first quarter. Boston Partners now owns 4,562,625 shares of the auto parts company's stock worth $194,089,000 after acquiring an additional 3,288,048 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of LKQ during the fourth quarter worth $165,548,000. EdgePoint Investment Group Inc. acquired a new stake in shares of LKQ during the fourth quarter worth $160,339,000. Finally, Northern Trust Corp raised its holdings in shares of LKQ by 9.1% during the fourth quarter. Northern Trust Corp now owns 2,685,613 shares of the auto parts company's stock worth $98,696,000 after acquiring an additional 223,510 shares during the period. 95.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on LKQ. Robert W. Baird dropped their price objective on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Barrington Research reiterated an "outperform" rating and issued a $60.00 price target on shares of LKQ in a research note on Tuesday, July 22nd. Finally, Wall Street Zen lowered shares of LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Five analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $51.40.

LKQ Stock Down 2.0%

Shares of LKQ stock opened at $30.62 on Thursday. The firm has a market capitalization of $7.88 billion, a P/E ratio of 11.22 and a beta of 0.92. The firm's fifty day moving average price is $34.91 and its two-hundred day moving average price is $38.60. LKQ Corporation has a 1 year low of $28.92 and a 1 year 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.

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). The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.62 billion. LKQ had a return on equity of 13.85% and a net margin of 5.04%.The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. On average, equities analysts predict that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, August 14th. This represents a $1.20 annualized dividend and a dividend yield of 3.9%. LKQ's payout ratio is currently 43.96%.

LKQ Company 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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