LKQ Co. (NASDAQ:LKQ) Shares Purchased by Cloverfields Capital Group LP

Cloverfields Capital Group LP grew its stake in shares of LKQ Co. (NASDAQ:LKQ) by 13.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 49,379 shares of the auto parts company’s stock after buying an additional 5,947 shares during the quarter. LKQ makes up 0.7% of Cloverfields Capital Group LP’s holdings, making the stock its 11th biggest holding. Cloverfields Capital Group LP’s holdings in LKQ were worth $2,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LKQ. BlackRock Inc. boosted its position in LKQ by 1.0% during the 2nd quarter. BlackRock Inc. now owns 20,786,300 shares of the auto parts company’s stock worth $1,023,102,000 after purchasing an additional 214,343 shares during the period. Massachusetts Financial Services Co. MA boosted its position in LKQ by 37.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,710,320 shares of the auto parts company’s stock worth $411,038,000 after purchasing an additional 2,645,094 shares during the period. Geode Capital Management LLC boosted its position in LKQ by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 5,705,577 shares of the auto parts company’s stock worth $240,982,000 after purchasing an additional 272,470 shares during the period. River Road Asset Management LLC boosted its position in LKQ by 10.8% during the 2nd quarter. River Road Asset Management LLC now owns 5,554,384 shares of the auto parts company’s stock worth $273,387,000 after purchasing an additional 540,003 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in LKQ by 151.7% during the 1st quarter. JPMorgan Chase & Co. now owns 5,452,442 shares of the auto parts company’s stock worth $230,801,000 after purchasing an additional 3,286,449 shares during the period. 93.98% of the stock is owned by institutional investors.

In other LKQ news, Director Meg Divitto sold 1,800 shares of the company’s stock in a transaction dated Wednesday, September 8th. The shares were sold at an average price of $50.75, for a total value of $91,350.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate insiders.

LKQ opened at $52.31 on Monday. The firm has a market cap of $15.37 billion, a price-to-earnings ratio of 16.77 and a beta of 1.66. LKQ Co. has a fifty-two week low of $26.73 and a fifty-two week high of $53.17. The company’s 50-day moving average price is $50.97 and its 200 day moving average price is $48.56. The company has a quick ratio of 0.78, a current ratio of 1.83 and a debt-to-equity ratio of 0.40.

LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Wednesday, July 28th. The auto parts company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.38. LKQ had a net margin of 7.50% and a return on equity of 18.67%. The firm had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Research analysts anticipate that LKQ Co. will post 3.69 earnings per share for the current year.

LKQ declared that its board has approved a stock repurchase program on Thursday, July 29th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the auto parts company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

A number of equities analysts have commented on the stock. Raymond James upgraded shares of LKQ from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Monday, August 2nd. Truist boosted their price objective on shares of LKQ from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Truist Securities boosted their price objective on shares of LKQ from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Zacks Investment Research lowered shares of LKQ from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Monday, July 26th. Finally, Robert W. Baird upped their target price on shares of LKQ from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, July 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, LKQ currently has an average rating of “Buy” and an average target price of $59.83.

About LKQ

LKQ Corp. is a distributor of vehicle products and its parts to repair, maintenance, and accessorize automobiles. It operates through the following segments: Wholesale-North America, Europe and Specialty. The Wholesale-North America segment includes Glass and Self Service segments. The company was founded by Donald F.

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Institutional Ownership by Quarter for LKQ (NASDAQ:LKQ)

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