Retirement Systems of Alabama Sells 16,619 Shares of LKQ Co. (NASDAQ:LKQ)

Retirement Systems of Alabama lessened its stake in shares of LKQ Co. (NASDAQ:LKQ - Free Report) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 221,510 shares of the auto parts company's stock after selling 16,619 shares during the quarter. Retirement Systems of Alabama owned approximately 0.09% of LKQ worth $8,843,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in LKQ by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,977,708 shares of the auto parts company's stock worth $478,150,000 after buying an additional 33,212 shares during the period. State Street Corp raised its holdings in shares of LKQ by 1.2% during the third quarter. State Street Corp now owns 11,449,166 shares of the auto parts company's stock valued at $457,051,000 after acquiring an additional 134,176 shares in the last quarter. Geode Capital Management LLC lifted its stake in LKQ by 0.3% in the third quarter. Geode Capital Management LLC now owns 6,542,740 shares of the auto parts company's stock worth $260,330,000 after acquiring an additional 21,161 shares during the period. FMR LLC lifted its stake in LKQ by 7.3% in the third quarter. FMR LLC now owns 6,020,689 shares of the auto parts company's stock worth $240,346,000 after acquiring an additional 411,390 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in LKQ by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,398,538 shares of the auto parts company's stock valued at $182,936,000 after acquiring an additional 253,639 shares in the last quarter. Institutional investors own 95.63% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on LKQ. Barrington Research restated an "outperform" rating and issued a $60.00 price objective on shares of LKQ in a report on Friday, October 25th. StockNews.com raised shares of LKQ from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lifted their price objective on LKQ from $54.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, September 12th. Robert W. Baird decreased their target price on LKQ from $50.00 to $48.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Finally, Roth Mkm restated a "buy" rating and set a $59.00 price target on shares of LKQ in a research report on Thursday, September 12th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $53.80.

LKQ Stock Up 1.0 %

Shares of NASDAQ LKQ traded up $0.38 on Wednesday, reaching $36.99. 3,662,501 shares of the company's stock traded hands, compared to its average volume of 1,968,356. The business's 50 day simple moving average is $38.41 and its two-hundred day simple moving average is $40.20. LKQ Co. has a 12 month low of $35.57 and a 12 month high of $53.68. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 13.80 and a beta of 1.29. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.01. LKQ had a return on equity of 15.15% and a net margin of 4.90%. The company had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the company earned $0.86 EPS. The firm's revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts forecast that LKQ Co. will post 3.43 EPS for the current fiscal year.

LKQ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.24%. The ex-dividend date was Thursday, November 14th. LKQ's dividend payout ratio (DPR) is 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.