Zurcher Kantonalbank Zurich Cantonalbank Sells 385,541 Shares of LKQ Co. (NASDAQ:LKQ)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in LKQ Co. (NASDAQ:LKQ) by 45.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 464,748 shares of the auto parts company’s stock after selling 385,541 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LKQ were worth $18,553,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Catalyst Capital Advisors LLC bought a new position in shares of LKQ during the third quarter worth approximately $25,000. Rothschild Investment LLC bought a new position in LKQ during the 2nd quarter worth $33,000. Allworth Financial LP lifted its holdings in shares of LKQ by 94.2% during the third quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock worth $40,000 after buying an additional 490 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in shares of LKQ by 33.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock valued at $46,000 after acquiring an additional 289 shares during the period. Finally, Banque Cantonale Vaudoise grew its stake in shares of LKQ by 29.8% in the second quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock valued at $50,000 after acquiring an additional 278 shares in the last quarter. Institutional investors and hedge funds own 95.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on LKQ. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Stifel Nicolaus reduced their price target on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, September 12th. Roth Mkm reissued a “buy” rating and set a $59.00 target price on shares of LKQ in a report on Thursday, September 12th. Finally, Robert W. Baird dropped their price target on LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $53.80.

LKQ Price Performance

LKQ stock opened at $39.29 on Friday. The stock has a fifty day moving average of $38.64 and a 200-day moving average of $40.68. The stock has a market capitalization of $10.21 billion, a P/E ratio of 14.66 and a beta of 1.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.72. LKQ Co. has a 52 week low of $35.57 and a 52 week high of $53.68.

LKQ (NASDAQ:LKQ) last issued its earnings results on Thursday, October 24th. The auto parts company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.87 by $0.01. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The business’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.86 earnings per share. On average, sell-side analysts expect that LKQ Co. will post 3.43 earnings per share for the current fiscal year.

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.05%. LKQ’s payout ratio is presently 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.