Retirement Systems of Alabama Trims Holdings in LKQ Co. (NASDAQ:LKQ)

Retirement Systems of Alabama lowered its holdings in LKQ Co. (NASDAQ:LKQ) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 238,129 shares of the auto parts company’s stock after selling 10,934 shares during the quarter. Retirement Systems of Alabama owned approximately 0.09% of LKQ worth $9,904,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its position in shares of LKQ by 40.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 777 shares of the auto parts company’s stock valued at $37,000 after buying an additional 225 shares during the period. Quarry LP grew its holdings in shares of LKQ by 65.1% during the 4th quarter. Quarry LP now owns 900 shares of the auto parts company’s stock worth $43,000 after acquiring an additional 355 shares during the period. CVA Family Office LLC raised its position in shares of LKQ by 54.2% in the 1st quarter. CVA Family Office LLC now owns 825 shares of the auto parts company’s stock worth $44,000 after acquiring an additional 290 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of LKQ in the 1st quarter valued at approximately $56,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of LKQ during the second quarter valued at approximately $60,000. 95.63% of the stock is currently owned by institutional investors.

LKQ Trading Up 2.0 %

LKQ stock opened at $42.63 on Friday. The business’s fifty day simple moving average is $41.56 and its two-hundred day simple moving average is $45.54. The company has a current ratio of 1.75, a quick ratio of 0.70 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 13.84 and a beta of 1.29. LKQ Co. has a 12 month low of $35.57 and a 12 month high of $54.07.

LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, July 25th. The auto parts company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.05). The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.87 billion. LKQ had a net margin of 5.03% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.09 earnings per share. As a group, equities analysts predict that LKQ Co. will post 3.6 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.20 annualized dividend and a yield of 2.81%. LKQ’s dividend payout ratio is 38.96%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Thursday, July 25th. Robert W. Baird reduced their target price on shares of LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. Finally, Roth Mkm reissued a “buy” rating and set a $65.00 price target on shares of LKQ in a research report on Thursday, July 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.80.

Insiders Place Their Bets

In other LKQ news, Director Andrew C. Clarke bought 7,600 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $39.70 per share, with a total value of $301,720.00. Following the transaction, the director now owns 10,519 shares in the company, valued at $417,604.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Justin L. Jude bought 2,500 shares of the stock in a transaction on Friday, July 26th. The shares were bought at an average price of $39.91 per share, with a total value of $99,775.00. Following the completion of the acquisition, the chief executive officer now owns 207,515 shares in the company, valued at $8,281,923.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew C. Clarke purchased 7,600 shares of the business’s stock in a transaction on Friday, July 26th. The shares were purchased at an average price of $39.70 per share, with a total value of $301,720.00. Following the completion of the purchase, the director now owns 10,519 shares in the company, valued at $417,604.30. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 13,084 shares of company stock valued at $521,096. Corporate insiders own 0.55% of the company’s stock.

LKQ Company 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.