Invenomic Capital Management LP Trims Holdings in LKQ Co. (NASDAQ:LKQ)

Invenomic Capital Management LP cut its position in shares of LKQ Co. (NASDAQ:LKQ - Free Report) by 42.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,440 shares of the auto parts company's stock after selling 76,612 shares during the period. Invenomic Capital Management LP's holdings in LKQ were worth $3,765,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cromwell Holdings LLC raised its stake in LKQ by 81.0% during the fourth quarter. Cromwell Holdings LLC now owns 742 shares of the auto parts company's stock worth $27,000 after purchasing an additional 332 shares during the period. CENTRAL TRUST Co increased its position in shares of LKQ by 618.0% during the fourth quarter. CENTRAL TRUST Co now owns 1,673 shares of the auto parts company's stock valued at $61,000 after acquiring an additional 1,440 shares during the last quarter. Allworth Financial LP increased its position in shares of LKQ by 107.8% during the fourth quarter. Allworth Financial LP now owns 2,099 shares of the auto parts company's stock valued at $82,000 after acquiring an additional 1,089 shares during the last quarter. Blue Trust Inc. increased its position in shares of LKQ by 24.4% during the fourth quarter. Blue Trust Inc. now owns 2,815 shares of the auto parts company's stock valued at $112,000 after acquiring an additional 553 shares during the last quarter. Finally, Spire Wealth Management increased its position in shares of LKQ by 92.5% during the fourth quarter. Spire Wealth Management now owns 2,890 shares of the auto parts company's stock valued at $106,000 after acquiring an additional 1,389 shares during the last quarter. 95.63% of the stock is owned by hedge funds and other institutional investors.

LKQ Stock Up 0.2%

Shares of LKQ stock traded up $0.10 during trading hours on Thursday, reaching $42.12. 1,489,005 shares of the company were exchanged, compared to its average volume of 2,287,686. The firm has a market cap of $10.87 billion, a PE ratio of 16.08 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.67 and a current ratio of 1.71. LKQ Co. has a 1 year low of $35.56 and a 1 year high of $46.64. The stock's fifty day moving average is $40.91 and its 200 day moving average is $39.26.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The auto parts company reported $0.79 earnings per share for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.58 billion. LKQ had a return on equity of 14.93% and a net margin of 4.81%. LKQ's revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 EPS. As a group, equities research analysts forecast that LKQ Co. will post 3.57 earnings per share for the current year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Thursday, May 15th. LKQ's dividend payout ratio (DPR) is presently 44.78%.

Insiders Place Their Bets

In other news, CEO Justin L. Jude purchased 2,708 shares of the stock in a transaction on Friday, April 25th. The stock was bought at an average price of $36.99 per share, for a total transaction of $100,168.92. Following the acquisition, the chief executive officer now directly owns 280,777 shares of the company's stock, valued at approximately $10,385,941.23. The trade was a 0.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dominick P. Zarcone sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $38.02, for a total transaction of $190,100.00. Following the transaction, the director now owns 316,135 shares of the company's stock, valued at $12,019,452.70. This trade represents a 1.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock worth $1,873,750 in the last 90 days. Corporate insiders own 0.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LKQ. Barrington Research reiterated an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Monday, April 21st. StockNews.com upgraded shares of LKQ from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of LKQ from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $52.60.

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.