Raymond James Financial Inc. Raises Position in 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. increased its holdings in LKQ Corporation (NASDAQ:LKQ - Free Report) by 42.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,566,454 shares of the auto parts company's stock after buying an additional 468,132 shares during the period. Raymond James Financial Inc. owned 0.61% of LKQ worth $66,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new position in LKQ in the 1st quarter worth approximately $30,000. Banque Cantonale Vaudoise bought a new position in LKQ in the 1st quarter worth approximately $40,000. UMB Bank n.a. boosted its holdings in LKQ by 104.8% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the auto parts company's stock worth $42,000 after buying an additional 500 shares during the period. Horizon Financial Services LLC bought a new position in LKQ in the 1st quarter valued at $42,000. Finally, Bruce G. Allen Investments LLC boosted its holdings in LKQ by 299.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock valued at $48,000 after purchasing an additional 851 shares during the period. 95.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on LKQ. Robert W. Baird cut their price target on shares of LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wall Street Zen downgraded shares of LKQ from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Barrington Research reissued an "outperform" rating and issued a $60.00 price target on shares of LKQ in a report on Tuesday, July 22nd. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $51.40.

LKQ Price Performance

Shares of NASDAQ LKQ traded down $0.23 during mid-day trading on Tuesday, reaching $31.47. 26,555,446 shares of the company were exchanged, compared to its average volume of 3,194,745. LKQ Corporation has a 52 week low of $28.92 and a 52 week high of $44.82. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $8.10 billion, a PE ratio of 11.53 and a beta of 0.92. The company's 50 day moving average price is $34.37 and its 200 day moving average price is $38.45.

LKQ (NASDAQ:LKQ - Get Free Report) last posted its quarterly earnings data 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). 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 firm posted $0.98 earnings per share. The business's revenue was down 1.6% on a year-over-year basis. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. Sell-side analysts forecast that LKQ Corporation will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

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 issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, August 14th. LKQ's payout ratio is currently 43.96%.

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.