Zurcher Kantonalbank Zurich Cantonalbank Sells 385,541 Shares of LKQ Co. (NASDAQ:LKQ)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in LKQ Co. (NASDAQ:LKQ) by 45.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 464,748 shares of the auto parts company’s stock after selling 385,541 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.18% of LKQ worth $18,553,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in LKQ during the 2nd quarter worth approximately $3,839,000. Addenda Capital Inc. bought a new position in shares of LKQ during the second quarter worth $6,419,000. TCW Group Inc. acquired a new position in shares of LKQ in the 2nd quarter valued at $6,601,000. Squarepoint Ops LLC increased its position in shares of LKQ by 3,683.6% in the 2nd quarter. Squarepoint Ops LLC now owns 274,577 shares of the auto parts company’s stock valued at $11,420,000 after buying an additional 267,320 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in LKQ by 165.3% during the 1st quarter. Cetera Investment Advisers now owns 45,940 shares of the auto parts company’s stock worth $2,454,000 after buying an additional 28,623 shares during the period. Institutional investors own 95.63% of the company’s stock.

Analyst Upgrades and Downgrades

LKQ has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on LKQ from $54.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, September 12th. StockNews.com raised LKQ from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Robert W. Baird cut their price target on shares of LKQ from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Barrington Research reissued an “outperform” rating and set a $60.00 price objective on shares of LKQ in a research report on Friday, October 25th. Finally, Stifel Nicolaus cut their price objective on shares of LKQ from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, LKQ currently has a consensus rating of “Buy” and an average price target of $53.80.

LKQ Stock Performance

Shares of LKQ stock opened at $39.29 on Friday. LKQ Co. has a 12 month low of $35.57 and a 12 month high of $53.68. The company’s fifty day simple moving average is $38.64 and its 200-day simple moving average is $40.68. The firm has a market cap of $10.21 billion, a PE ratio of 14.66 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) last announced its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.88 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.65 billion. During the same quarter last year, the company earned $0.86 EPS. LKQ’s revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts expect that LKQ Co. will post 3.43 EPS for the current fiscal year.

LKQ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, November 14th. LKQ’s dividend payout ratio is currently 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.