Sumitomo Mitsui Trust Holdings Inc. Sells 35,040 Shares of LKQ Co. (NASDAQ:LKQ)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of LKQ Co. (NASDAQ:LKQ) by 5.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 668,518 shares of the auto parts company’s stock after selling 35,040 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in LKQ were worth $27,804,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in LKQ during the fourth quarter valued at approximately $159,324,000. Boston Partners grew its position in shares of LKQ by 22.0% during the 4th quarter. Boston Partners now owns 7,507,873 shares of the auto parts company’s stock valued at $358,848,000 after purchasing an additional 1,351,389 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of LKQ by 9.5% in the fourth quarter. Wellington Management Group LLP now owns 11,307,753 shares of the auto parts company’s stock worth $540,398,000 after purchasing an additional 977,585 shares during the period. Polaris Capital Management LLC purchased a new stake in shares of LKQ in the first quarter worth $36,821,000. Finally, Vanguard Group Inc. boosted its stake in LKQ by 2.2% during the first quarter. Vanguard Group Inc. now owns 30,897,480 shares of the auto parts company’s stock valued at $1,650,234,000 after buying an additional 656,883 shares during the period. 95.63% of the stock is currently owned by institutional investors.

LKQ Price Performance

LKQ opened at $41.12 on Tuesday. 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 stock has a market capitalization of $10.97 billion, a P/E ratio of 13.35 and a beta of 1.29. The stock has a 50-day moving average price of $41.51 and a 200-day moving average price of $45.68. LKQ Co. has a 12-month low of $35.57 and a 12-month high of $54.07.

LKQ (NASDAQ:LKQ) last released its earnings results 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). LKQ had a return on equity of 15.33% and a net margin of 5.03%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. Equities analysts predict that LKQ Co. will post 3.6 earnings per share for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, August 15th. LKQ’s dividend payout ratio is currently 38.96%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LKQ. Robert W. Baird decreased their target price on LKQ from $54.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Roth Mkm restated a “buy” rating and issued a $65.00 price objective on shares of LKQ in a research report on Thursday, July 25th. Finally, Barrington Research reiterated an “outperform” rating and set a $60.00 target price on shares of LKQ in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.80.

Insider Buying and Selling

In related news, Director Andrew C. Clarke bought 7,600 shares of the stock in a transaction dated Friday, July 26th. The stock was bought at an average price of $39.70 per share, with a total value of $301,720.00. Following the purchase, the director now owns 10,519 shares in the company, valued at approximately $417,604.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Justin L. Jude purchased 2,500 shares of the company’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $39.91 per share, with a total value of $99,775.00. Following the transaction, the chief executive officer now directly owns 207,515 shares of the company’s stock, valued at approximately $8,281,923.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew C. Clarke purchased 7,600 shares of the business’s stock in a transaction on Friday, July 26th. The stock was purchased at an average cost of $39.70 per share, for a total transaction of $301,720.00. Following the acquisition, the director now owns 10,519 shares in the company, valued at $417,604.30. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,084 shares of company stock worth $521,096 in the last 90 days. 0.55% of the stock is owned by company insiders.

About LKQ

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.