Cadence Bank Buys 572 Shares of LKQ Co. (NASDAQ:LKQ)

Cadence Bank grew its stake in shares of LKQ Co. (NASDAQ:LKQ) by 4.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,523 shares of the auto parts company’s stock after acquiring an additional 572 shares during the period. Cadence Bank’s holdings in LKQ were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LKQ. Catalyst Capital Advisors LLC purchased a new position in LKQ during the third quarter valued at approximately $25,000. Rothschild Investment LLC purchased a new position in shares of LKQ during the 2nd quarter valued at $33,000. Allworth Financial LP increased its holdings in shares of LKQ by 94.2% in the third quarter. Allworth Financial LP now owns 1,010 shares of the auto parts company’s stock worth $40,000 after purchasing an additional 490 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of LKQ by 33.5% in the third quarter. Bruce G. Allen Investments LLC now owns 1,151 shares of the auto parts company’s stock worth $46,000 after buying an additional 289 shares in the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in LKQ by 29.8% during the second quarter. Banque Cantonale Vaudoise now owns 1,211 shares of the auto parts company’s stock valued at $50,000 after buying an additional 278 shares during the period. 95.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LKQ has been the topic of a number of research analyst reports. Roth Mkm restated a “buy” rating and issued a $59.00 target price on shares of LKQ in a research note on Thursday, September 12th. Barrington Research restated an “outperform” rating and issued a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of 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 price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, StockNews.com raised shares of LKQ from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, LKQ has a consensus rating of “Buy” and an average price target of $53.80.

LKQ Stock Up 0.3 %

Shares of LKQ opened at $39.13 on Thursday. LKQ Co. has a 1 year low of $35.57 and a 1 year high of $53.68. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.72 and a quick ratio of 0.67. The stock has a 50 day simple moving average of $38.70 and a two-hundred day simple moving average of $40.70. The firm has a market cap of $10.17 billion, a P/E ratio of 14.60 and a beta of 1.29.

LKQ (NASDAQ:LKQ) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 earnings per share (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 analysts’ expectations of $3.65 billion. LKQ had a net margin of 4.90% and a return on equity of 15.15%. The firm’s revenue was up .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts forecast that LKQ Co. will post 3.43 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Thursday, November 14th. LKQ’s dividend payout ratio (DPR) is presently 44.78%.

About LKQ

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.