Palisade Capital Management LP Invests $7.05 Million in LKQ Corporation $LKQ

Palisade Capital Management LP bought a new position in shares of LKQ Corporation (NASDAQ:LKQ) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 267,691 shares of the auto parts company’s stock, valued at approximately $7,048,000. Palisade Capital Management LP owned 0.11% of LKQ at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LKQ. BlackRock Inc. bought a new stake in LKQ in the 2nd quarter valued at about $1,015,096,000. Seizert Capital Partners LLC increased its holdings in shares of LKQ by 30.1% during the fourth quarter. Seizert Capital Partners LLC now owns 2,178,703 shares of the auto parts company’s stock worth $65,797,000 after purchasing an additional 503,998 shares during the period. Applied Finance Capital Management LLC raised its position in shares of LKQ by 11.0% in the first quarter. Applied Finance Capital Management LLC now owns 662,216 shares of the auto parts company’s stock valued at $19,449,000 after buying an additional 65,534 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in shares of LKQ in the second quarter valued at approximately $17,859,000. Finally, Pzena Investment Management LLC acquired a new stake in LKQ during the second quarter worth approximately $398,696,000. 95.63% of the stock is owned by institutional investors and hedge funds.

LKQ Price Performance

Shares of LKQ opened at $25.37 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.58 and a debt-to-equity ratio of 0.52. The stock has a market cap of $6.42 billion, a PE ratio of 14.09 and a beta of 0.84. LKQ Corporation has a 12-month low of $21.17 and a 12-month high of $37.13. The business has a 50-day simple moving average of $25.39 and a two-hundred day simple moving average of $28.10.

LKQ (NASDAQ:LKQ) last released its quarterly earnings data on Thursday, July 30th. The auto parts company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.04). The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.48 billion. LKQ had a net margin of 3.37% and a return on equity of 10.84%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 EPS. LKQ has set its FY 2026 guidance at 2.600-2.900 EPS. Analysts anticipate that LKQ Corporation will post 2.67 earnings per share for the current fiscal year.

LKQ Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 20th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 20th. This represents a $1.20 annualized dividend and a yield of 4.7%. LKQ’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

LKQ has been the subject of a number of recent analyst reports. Robert W. Baird set a $30.00 target price on LKQ in a research report on Friday, July 31st. Barclays cut their price objective on shares of LKQ from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, August 3rd. Raymond James Financial set a $30.00 target price on shares of LKQ in a report on Friday, July 31st. Weiss Ratings downgraded shares of LKQ from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, August 13th. Finally, Roth Capital set a $35.00 price objective on shares of LKQ in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.08.

LKQ Profile

LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. The company supplies a broad range of replacement components, including recycled original equipment manufacturer (OEM) parts, aftermarket parts, refurbished and remanufactured items. Its products support collision repair, mechanical repair and performance enhancement needs across passenger cars, heavy trucks and recreational vehicles.

Through a combination of in-house operations and strategic acquisitions, LKQ has developed a comprehensive product portfolio that extends beyond core replacement parts.