Mirae Asset Global Investments Co. Ltd. Grows Stake in LKQ Co. (NASDAQ:LKQ)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of LKQ Co. (NASDAQ:LKQ) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,533 shares of the auto parts company’s stock after purchasing an additional 5,394 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in LKQ were worth $990,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in shares of LKQ during the 2nd quarter worth $33,000. Allworth Financial LP lifted its holdings in shares of LKQ by 94.2% during the 3rd quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock worth $40,000 after acquiring an additional 490 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of LKQ by 33.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock worth $46,000 after acquiring an additional 289 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of LKQ by 29.8% during the 2nd quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock worth $50,000 after acquiring an additional 278 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of LKQ during the 1st quarter worth $56,000. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

LKQ Price Performance

LKQ stock opened at $36.90 on Friday. The firm’s 50-day moving average price is $39.69 and its two-hundred day moving average price is $41.62. LKQ Co. has a 12-month low of $35.57 and a 12-month high of $53.68. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 13.77 and a beta of 1.28. The company has a current ratio of 1.72, a quick ratio of 0.67 and a debt-to-equity ratio of 0.69.

LKQ (NASDAQ:LKQ) last released 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 firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities analysts predict that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Thursday, November 14th. LKQ’s dividend payout ratio is currently 44.78%.

Analyst Upgrades and Downgrades

LKQ has been the subject of several recent research reports. Barrington Research reissued an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, September 12th. StockNews.com raised shares of LKQ from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Robert W. Baird lowered their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Stifel Nicolaus lowered their price target on shares of LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, October 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $53.80.

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.