CIBC Asset Management Inc Reduces Holdings in LKQ Co. (NASDAQ:LKQ)

CIBC Asset Management Inc lessened its position in shares of LKQ Co. (NASDAQ:LKQ) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 43,083 shares of the auto parts company’s stock after selling 1,986 shares during the quarter. CIBC Asset Management Inc’s holdings in LKQ were worth $1,583,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in LKQ by 112.9% in the fourth quarter. Pacer Advisors Inc. now owns 42,563 shares of the auto parts company’s stock valued at $1,564,000 after purchasing an additional 22,575 shares during the period. Nordea Investment Management AB increased its position in shares of LKQ by 11.0% during the 4th quarter. Nordea Investment Management AB now owns 8,406,444 shares of the auto parts company’s stock worth $309,609,000 after purchasing an additional 833,519 shares during the last quarter. Rehmann Capital Advisory Group purchased a new stake in LKQ in the 3rd quarter valued at about $634,000. Ninety One UK Ltd lifted its position in LKQ by 28.5% in the fourth quarter. Ninety One UK Ltd now owns 833,015 shares of the auto parts company’s stock valued at $30,613,000 after buying an additional 184,710 shares during the last quarter. Finally, Quantbot Technologies LP boosted its stake in LKQ by 27,310.6% during the third quarter. Quantbot Technologies LP now owns 64,415 shares of the auto parts company’s stock worth $2,571,000 after buying an additional 64,180 shares during the period. 95.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $60.00 price target on shares of LKQ in a research note on Thursday. Robert W. Baird cut their target price on LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. StockNews.com cut LKQ from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus lowered their target price on LKQ from $53.00 to $47.00 and set a “buy” rating for the company in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. boosted their price target on shares of LKQ from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

Insider Activity at LKQ

In other LKQ news, Director Dominick P. Zarcone sold 5,000 shares of LKQ stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $36.14, for a total transaction of $180,700.00. Following the transaction, the director now owns 369,462 shares of the company’s stock, valued at $13,352,356.68. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 20,000 shares of company stock valued at $781,500 over the last ninety days. Insiders own 0.55% of the company’s stock.

LKQ Stock Down 3.0 %

LKQ stock opened at $40.49 on Friday. The company’s 50 day moving average price is $37.63 and its 200 day moving average price is $38.76. The firm has a market capitalization of $10.53 billion, a price-to-earnings ratio of 15.11 and a beta of 1.29. LKQ Co. has a fifty-two week low of $35.56 and a fifty-two week high of $53.68. 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 (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, February 20th. The auto parts company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.04. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.42 billion. On average, equities research analysts anticipate that LKQ Co. will post 3.43 EPS for the current fiscal year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.96%. LKQ’s dividend payout ratio (DPR) is presently 44.78%.

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.