Point72 Asset Management L.P. Acquires Shares of 1,272,222 LKQ Co. (LKQ)
Point72 Asset Management L.P. acquired a new stake in LKQ Co. (NASDAQ:LKQ) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,272,222 shares of the auto parts company’s stock, valued at approximately $48,281,000. Point72 Asset Management L.P. owned approximately 0.41% of LKQ as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of LKQ. Goldman Sachs Group Inc. increased its position in LKQ by 39.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,513,151 shares of the auto parts company’s stock worth $183,550,000 after buying an additional 1,283,674 shares during the period. Millennium Management LLC increased its position in LKQ by 1,557.6% in the 4th quarter. Millennium Management LLC now owns 1,281,123 shares of the auto parts company’s stock worth $52,103,000 after buying an additional 1,203,833 shares during the period. Victory Capital Management Inc. increased its position in LKQ by 62.4% in the 1st quarter. Victory Capital Management Inc. now owns 1,993,706 shares of the auto parts company’s stock worth $75,661,000 after buying an additional 766,162 shares during the period. American Century Companies Inc. increased its position in LKQ by 33.3% in the 1st quarter. American Century Companies Inc. now owns 1,876,162 shares of the auto parts company’s stock worth $71,200,000 after buying an additional 468,513 shares during the period. Finally, Baird Financial Group Inc. increased its position in LKQ by 44.8% in the 4th quarter. Baird Financial Group Inc. now owns 1,451,860 shares of the auto parts company’s stock worth $59,047,000 after buying an additional 449,103 shares during the period. 91.46% of the stock is currently owned by institutional investors.
In related news, SVP Justin L. Jude acquired 2,280 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The stock was acquired at an average price of $32.58 per share, for a total transaction of $74,282.40. Following the completion of the acquisition, the senior vice president now owns 66,729 shares of the company’s stock, valued at approximately $2,174,030.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert M. Hanser sold 1,099 shares of the company’s stock in a transaction dated Wednesday, May 9th. The shares were sold at an average price of $30.30, for a total value of $33,299.70. Following the completion of the sale, the director now owns 10,984 shares of the company’s stock, valued at approximately $332,815.20. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by insiders.
LKQ (NASDAQ:LKQ) last posted its quarterly earnings data on Thursday, April 26th. The auto parts company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.04). The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.62 billion. LKQ had a return on equity of 14.52% and a net margin of 5.44%. LKQ’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. research analysts anticipate that LKQ Co. will post 2.28 earnings per share for the current year.
Several analysts have recently weighed in on the company. Zacks Investment Research lowered LKQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 21st. Barrington Research reaffirmed a “buy” rating and issued a $45.00 price target on shares of LKQ in a research note on Monday, February 26th. B. Riley boosted their price target on LKQ from $41.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. BidaskClub raised LKQ from a “sell” rating to a “hold” rating in a research note on Thursday, March 22nd. Finally, Guggenheim assumed coverage on LKQ in a research note on Tuesday, April 17th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $44.30.
LKQ Corporation, together with its subsidiaries, distributes replacement parts, components, and systems used in the repair and maintenance of vehicles in North America, Europe, and Taiwan. It operates in three segments: North America, Europe, and Specialty. The company distributes bumper covers, automotive body panels, and lights, as well as automotive glass products, such as windshields; 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.
Receive News & Ratings for LKQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LKQ and related companies with MarketBeat.com's FREE daily email newsletter.