New York State Teachers Retirement System Reduces Holdings in LKQ Co. (NASDAQ:LKQ)

New York State Teachers Retirement System cut its stake in shares of LKQ Co. (NASDAQ:LKQ) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 218,696 shares of the auto parts company’s stock after selling 8,245 shares during the quarter. New York State Teachers Retirement System owned 0.08% of LKQ worth $9,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Nicholas Company Inc. lifted its holdings in LKQ by 21.2% in the 2nd quarter. Nicholas Company Inc. now owns 182,985 shares of the auto parts company’s stock worth $7,610,000 after buying an additional 32,045 shares during the period. GYL Financial Synergies LLC lifted its holdings in LKQ by 6.5% in the 2nd quarter. GYL Financial Synergies LLC now owns 6,178 shares of the auto parts company’s stock worth $257,000 after buying an additional 379 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in LKQ in the 2nd quarter worth approximately $60,000. Oak Family Advisors LLC lifted its holdings in LKQ by 52.4% in the 2nd quarter. Oak Family Advisors LLC now owns 20,728 shares of the auto parts company’s stock worth $862,000 after buying an additional 7,124 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in LKQ in the 2nd quarter worth approximately $1,593,000. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other LKQ news, Director Andrew C. Clarke bought 7,600 shares of LKQ 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 acquisition, the director now owns 10,519 shares in the company, valued at $417,604.30. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Justin L. Jude purchased 2,500 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $39.91 per share, for a total transaction of $99,775.00. Following the purchase, the chief executive officer now directly owns 207,515 shares in the company, valued at approximately $8,281,923.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew C. Clarke purchased 7,600 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was purchased at an average price of $39.70 per share, for a total transaction 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 Stock Up 2.0 %

LKQ stock opened at $42.63 on Friday. LKQ Co. has a twelve month low of $35.57 and a twelve month high of $54.07. The company has a quick ratio of 0.70, a current ratio of 1.75 and a debt-to-equity ratio of 0.69. The firm has a market cap of $11.37 billion, a PE ratio of 13.84 and a beta of 1.29. The business has a 50 day moving average of $41.56 and a 200 day moving average of $45.54.

LKQ (NASDAQ:LKQ) last posted 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). LKQ had a net margin of 5.03% and a return on equity of 15.33%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period last year, the business earned $1.09 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, research analysts forecast that LKQ Co. will post 3.6 EPS 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 issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, August 15th. LKQ’s payout ratio is 38.96%.

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.