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

CIBC Asset Management Inc boosted its stake in shares of LKQ Co. (NASDAQ:LKQ) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,069 shares of the auto parts company’s stock after acquiring an additional 2,530 shares during the quarter. CIBC Asset Management Inc’s holdings in LKQ were worth $1,799,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. OneDigital Investment Advisors LLC grew its stake in shares of LKQ by 166.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 23,803 shares of the auto parts company’s stock worth $950,000 after purchasing an additional 14,886 shares during the period. Metis Global Partners LLC increased its holdings in LKQ by 11.6% in the third quarter. Metis Global Partners LLC now owns 30,046 shares of the auto parts company’s stock valued at $1,199,000 after buying an additional 3,128 shares in the last quarter. KBC Group NV raised its position in shares of LKQ by 33.7% in the third quarter. KBC Group NV now owns 718,305 shares of the auto parts company’s stock worth $28,674,000 after acquiring an additional 181,242 shares during the period. Oppenheimer Asset Management Inc. grew its position in shares of LKQ by 25.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 398,312 shares of the auto parts company’s stock valued at $15,901,000 after acquiring an additional 79,830 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of LKQ by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,552,916 shares of the auto parts company’s stock valued at $61,992,000 after purchasing an additional 18,004 shares in the last quarter. 95.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LKQ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, September 12th. Robert W. Baird cut their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Roth Mkm restated a “buy” rating and set a $59.00 price objective on shares of LKQ in a research report on Thursday, September 12th. StockNews.com upgraded shares of LKQ from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Barrington Research restated an “outperform” rating and set a $60.00 price target on shares of LKQ in a research report on Friday, October 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $53.80.

LKQ Price Performance

Shares of NASDAQ LKQ opened at $37.60 on Wednesday. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 14.03 and a beta of 1.29. LKQ Co. has a 52 week low of $35.57 and a 52 week high of $53.68. The firm has a 50-day simple moving average of $38.87 and a 200-day simple moving average of $40.91. The company has a quick ratio of 0.67, a current ratio of 1.72 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 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.65 billion. LKQ had a net margin of 4.90% and a return on equity of 15.15%. LKQ’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, equities analysts predict that LKQ Co. will post 3.43 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, November 14th. LKQ’s dividend payout ratio (DPR) is currently 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.