Raymond James Trust N.A. Reduces Position in LKQ Co. (NASDAQ:LKQ)

Raymond James Trust N.A. trimmed its holdings in LKQ Co. (NASDAQ:LKQ) by 5.0% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,646 shares of the auto parts company’s stock after selling 711 shares during the quarter. Raymond James Trust N.A.’s holdings in LKQ were worth $545,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Seizert Capital Partners LLC grew its stake in shares of LKQ by 451.1% in the third quarter. Seizert Capital Partners LLC now owns 1,327,664 shares of the auto parts company’s stock worth $53,000,000 after acquiring an additional 1,086,758 shares during the period. Millennium Management LLC raised its stake in LKQ by 552.8% during the 2nd quarter. Millennium Management LLC now owns 1,236,158 shares of the auto parts company’s stock valued at $51,412,000 after buying an additional 1,046,805 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of LKQ by 7.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,944,496 shares of the auto parts company’s stock worth $496,772,000 after acquiring an additional 875,420 shares during the period. Cooke & Bieler LP increased its position in LKQ by 39.8% during the second quarter. Cooke & Bieler LP now owns 3,067,772 shares of the auto parts company’s stock valued at $127,589,000 after acquiring an additional 873,665 shares during the last quarter. Finally, Boston Partners lifted its holdings in LKQ by 9.5% in the first quarter. Boston Partners now owns 8,220,571 shares of the auto parts company’s stock valued at $438,108,000 after acquiring an additional 712,698 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LKQ shares. Stifel Nicolaus lowered their price objective on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Barrington Research reissued an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Roth Mkm reaffirmed a “buy” rating and issued a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. JPMorgan Chase & Co. boosted their price target on LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Finally, Robert W. Baird decreased their price objective on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of $53.80.

LKQ Price Performance

Shares of LKQ stock opened at $39.76 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.69. LKQ Co. has a 52 week low of $35.57 and a 52 week high of $53.68. The stock’s 50-day simple moving average is $38.75 and its 200-day simple moving average is $40.77. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 14.84 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the firm posted $0.86 EPS. The company’s revenue was up .4% on a year-over-year basis. As a group, analysts expect that LKQ Co. will post 3.43 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, November 14th. LKQ’s payout ratio is 44.78%.

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.