Woodline Partners LP Acquires 322,152 Shares of LKQ Corporation $LKQ

Key Points

• Woodline Partners LP increased its stake in LKQ Corporation by 2,063.5%, owning approximately 337,764 shares worth $14.37 million as of its latest SEC filing.
• LKQ reported earnings per share (EPS) of $0.87 for the quarter, falling short of the consensus estimate of $0.93, with revenue at $3.64 billion.
• The company announced a quarterly dividend of $0.30 per share, translating to an annualized yield of 3.7% and a dividend payout ratio of roughly 44%.

Woodline Partners LP increased its holdings in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 2,063.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,764 shares of the auto parts company's stock after purchasing an additional 322,152 shares during the period. Woodline Partners LP owned approximately 0.13% of LKQ worth $14,368,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its position in shares of LKQ by 14.8% in 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. Ancora Advisors LLC lifted its position in LKQ by 95.7% during the 1st quarter. Ancora Advisors LLC now owns 5,477,467 shares of the auto parts company's stock worth $233,011,000 after buying an additional 2,678,964 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in LKQ by 12.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 4,891,329 shares of the auto parts company's stock worth $208,077,000 after buying an additional 528,350 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in LKQ by 4.2% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 4,692,421 shares of the auto parts company's stock worth $199,616,000 after acquiring an additional 187,713 shares in the last quarter. Finally, Boston Partners raised its holdings in 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 in the last quarter. 95.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LKQ. Barrington Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of LKQ in a report on Tuesday, July 22nd. Robert W. Baird dropped their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Finally, Wall Street Zen lowered LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $49.50.

LKQ Trading Up 0.3%

Shares of NASDAQ:LKQ traded up $0.08 during trading on Tuesday, reaching $31.63. The stock had a trading volume of 651,344 shares, compared to its average volume of 2,764,351. LKQ Corporation has a 52 week low of $28.92 and a 52 week high of $44.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.81. The firm's fifty day moving average is $32.90 and its 200 day moving average is $37.69. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 11.59 and a beta of 0.90.

LKQ (NASDAQ:LKQ - Get Free Report) last announced its earnings results on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. LKQ has set its FY 2025 guidance at 3.000-3.30 EPS. As a group, equities analysts forecast that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was 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.