Victory Capital Management Inc. Boosts Holdings in LKQ Co. (NASDAQ:LKQ)

Victory Capital Management Inc. increased its stake in LKQ Co. (NASDAQ:LKQ) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,552,916 shares of the auto parts company’s stock after acquiring an additional 18,004 shares during the period. Victory Capital Management Inc.’s holdings in LKQ were worth $61,992,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in shares of LKQ in the second quarter worth $3,839,000. Capital World Investors raised its stake in LKQ by 91.0% during the 1st quarter. Capital World Investors now owns 582,953 shares of the auto parts company’s stock valued at $31,136,000 after purchasing an additional 277,700 shares during the period. Addenda Capital Inc. purchased a new position in shares of LKQ in the second quarter worth $6,419,000. TCW Group Inc. purchased a new stake in LKQ in the 2nd quarter worth $6,601,000. Finally, Swedbank AB bought a new position in LKQ during the first quarter valued at approximately $20,555,000. 95.63% of the stock is currently owned by institutional investors.

LKQ Stock Performance

Shares of LKQ stock opened at $38.69 on Friday. The firm has a market cap of $10.06 billion, a PE ratio of 14.44 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 business’s fifty day simple moving average is $38.97 and its 200-day simple moving average is $41.06. 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 earnings results on Thursday, October 24th. The auto parts company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.65 billion. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. Equities analysts forecast that LKQ Co. will post 3.43 earnings per share for the current year.

LKQ Announces Dividend

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 paid a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.20 annualized dividend and a yield of 3.10%. LKQ’s dividend payout ratio is currently 44.78%.

Analyst Ratings Changes

LKQ has been the topic of several analyst reports. Roth Mkm reissued a “buy” rating and set a $59.00 target price on shares of LKQ in a research report on Thursday, September 12th. Stifel Nicolaus dropped their price objective on LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of LKQ from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Thursday, September 12th. Robert W. Baird reduced their target price 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. Finally, Barrington Research restated an “outperform” rating and set a $60.00 price objective on shares of LKQ in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.80.

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.