LKQ Co. (NASDAQ:LKQ) CEO Dominick P. Zarcone Sells 32,000 Shares

Posted by Defense World Staff on Sep 6th, 2023

LKQ Co. (NASDAQ:LKQ – Get Free Report) CEO Dominick P. Zarcone sold 32,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $51.74, for a total transaction of $1,655,680.00. Following the completion of the sale, the chief executive officer now directly owns 495,004 shares of the company’s stock, valued at approximately $25,611,506.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

LKQ Price Performance

Shares of NASDAQ:LKQ opened at $51.46 on Wednesday. The company has a 50-day moving average price of $55.13 and a two-hundred day moving average price of $55.44. The firm has a market capitalization of $13.77 billion, a PE ratio of 13.80 and a beta of 1.35. LKQ Co. has a twelve month low of $46.20 and a twelve month high of $59.38. The company has a quick ratio of 1.15, a current ratio of 2.03 and a debt-to-equity ratio of 0.57.

LKQ (NASDAQ:LKQ – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The auto parts company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. The business had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.46 billion. LKQ had a net margin of 7.80% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.09 earnings per share. Equities analysts forecast that LKQ Co. will post 4 EPS for the current year.

LKQ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, August 16th. LKQ’s payout ratio is currently 29.49%.

Institutional Investors Weigh In On LKQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clear Street Markets LLC raised its holdings in LKQ by 94.1% in the first quarter. Clear Street Markets LLC now owns 497 shares of the auto parts company’s stock worth $28,000 after buying an additional 241 shares during the last quarter. Desjardins Global Asset Management Inc. purchased a new position in shares of LKQ in the first quarter worth $35,000. Covestor Ltd increased its holdings in LKQ by 81.1% in the 1st quarter. Covestor Ltd now owns 623 shares of the auto parts company’s stock worth $28,000 after buying an additional 279 shares in the last quarter. Venturi Wealth Management LLC bought a new position in LKQ during the 1st quarter valued at about $36,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of LKQ by 55.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 736 shares of the auto parts company’s stock valued at $42,000 after purchasing an additional 262 shares during the last quarter. 93.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Robert W. Baird reissued an “outperform” rating and issued a $65.00 price objective on shares of LKQ in a research note on Monday, August 28th. StockNews.com lowered shares of LKQ from a “strong-buy” rating to a “buy” rating in a research note on Sunday.

Check Out Our Latest Report on LKQ

About LKQ

(Get Free Report)

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 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.