Zurcher Kantonalbank Zurich Cantonalbank Raises Position in LKQ Corporation (NASDAQ:LKQ)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in LKQ Corporation (NASDAQ:LKQ - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 370,619 shares of the auto parts company's stock after purchasing an additional 38,178 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.14% of LKQ worth $15,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in LKQ by 104.8% during 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 acquired a new position in LKQ during the 1st quarter worth about $42,000. Bruce G. Allen Investments LLC lifted its holdings in LKQ by 299.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,135 shares of the auto parts company's stock worth $48,000 after buying an additional 851 shares during the period. Whittier Trust Co. lifted its holdings in LKQ by 70.9% during the 1st quarter. Whittier Trust Co. now owns 1,707 shares of the auto parts company's stock worth $73,000 after buying an additional 708 shares during the period. Finally, Private Trust Co. NA lifted its holdings in LKQ by 30.2% during the 1st quarter. Private Trust Co. NA now owns 1,847 shares of the auto parts company's stock worth $79,000 after buying an additional 428 shares during the period. Institutional investors own 95.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LKQ shares. Wall Street Zen downgraded LKQ from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Barrington Research reissued an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a research note on Tuesday, July 22nd. Finally, 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. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, LKQ has a consensus rating of "Moderate Buy" and an average target price of $51.40.

LKQ Stock Up 0.6%

LKQ stock traded up $0.17 during mid-day trading on Friday, reaching $29.64. The stock had a trading volume of 3,601,368 shares, compared to its average volume of 2,550,985. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.69 and a current ratio of 1.81. LKQ Corporation has a fifty-two week low of $29.02 and a fifty-two week high of $44.82. The stock's 50-day simple moving average is $37.60 and its 200-day simple moving average is $39.37. The firm has a market capitalization of $7.63 billion, a PE ratio of 10.86 and a beta of 0.95.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The auto parts company reported $0.87 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.62 billion. LKQ had a return on equity of 13.85% and a net margin of 5.04%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, sell-side analysts forecast that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be paid a $0.30 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.20 annualized dividend and a yield of 4.0%. LKQ's dividend payout ratio is presently 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.