Invenomic Capital Management LP Sells 76,612 Shares of LKQ Co. (NASDAQ:LKQ)

Invenomic Capital Management LP trimmed its position in shares of LKQ Co. (NASDAQ:LKQ) by 42.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,440 shares of the auto parts company’s stock after selling 76,612 shares during the period. Invenomic Capital Management LP’s holdings in LKQ were worth $3,765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in LKQ by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 6,591,553 shares of the auto parts company’s stock valued at $241,643,000 after buying an additional 48,813 shares during the period. Invesco Ltd. boosted its stake in LKQ by 26.6% during the fourth quarter. Invesco Ltd. now owns 5,571,136 shares of the auto parts company’s stock valued at $204,739,000 after buying an additional 1,171,481 shares during the period. Dimensional Fund Advisors LP boosted its stake in LKQ by 25.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,231,940 shares of the auto parts company’s stock valued at $192,268,000 after buying an additional 1,053,001 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in LKQ during the fourth quarter valued at $165,548,000. Finally, EdgePoint Investment Group Inc. purchased a new stake in LKQ during the fourth quarter valued at about $160,339,000. 95.63% of the stock is owned by institutional investors.

Insider Buying and Selling at LKQ

In related news, CEO Justin L. Jude bought 2,708 shares of the firm’s stock in a transaction on Friday, April 25th. The stock was acquired at an average cost of $36.99 per share, for a total transaction of $100,168.92. Following the purchase, the chief executive officer now owns 280,777 shares in the company, valued at approximately $10,385,941.23. This represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dominick P. Zarcone sold 10,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $41.66, for a total transaction of $416,600.00. Following the sale, the director now owns 359,462 shares of the company’s stock, valued at approximately $14,975,186.92. This represents a 2.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,000 shares of company stock worth $1,873,750. Insiders own 0.55% of the company’s stock.

LKQ Stock Performance

LKQ stock opened at $40.10 on Monday. The stock has a market capitalization of $10.35 billion, a PE ratio of 15.31 and a beta of 0.98. LKQ Co. has a 12-month low of $35.56 and a 12-month high of $46.64. The company has a current ratio of 1.71, a quick ratio of 0.67 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $40.95 and its 200 day simple moving average is $39.19.

LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, April 24th. The auto parts company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.58 billion. LKQ had a return on equity of 14.93% and a net margin of 4.81%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 EPS. As a group, research analysts forecast that LKQ Co. will post 3.57 earnings per share for the current fiscal year.

LKQ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 2.99%. LKQ’s dividend payout ratio is presently 44.78%.

Analysts Set New Price Targets

LKQ has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on LKQ from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Barrington Research restated an “outperform” rating and set a $60.00 price target on shares of LKQ in a research report on Monday, April 21st. Finally, StockNews.com downgraded LKQ from a “buy” rating to a “hold” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.60.

LKQ 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.