Wedgewood Partners Inc Lowers stake in LKQ Corporation (LKQ)

LKQ Corporation (LKQ) : Wedgewood Partners Inc reduced its stake in LKQ Corporation by 3.89% during the most recent quarter end. The investment management company now holds a total of 8,613,464 shares of LKQ Corporation which is valued at $298,456,528 after selling 348,598 shares in LKQ Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.LKQ Corporation makes up approximately 5.33% of Wedgewood Partners Inc’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in LKQ in the latest quarter, The investment management firm added 7,484 additional shares and now holds a total of 406,120 shares of LKQ Corporation which is valued at $14,072,058. LKQ Corporation makes up approx 0.02% of Manufacturers Life Insurance Company The’s portfolio.Janus Capital Management boosted its stake in LKQ in the latest quarter, The investment management firm added 366,158 additional shares and now holds a total of 698,021 shares of LKQ Corporation which is valued at $24,186,428. LKQ Corporation makes up approx 0.02% of Janus Capital Management’s portfolio.Artisan Partners Limited Partnership boosted its stake in LKQ in the latest quarter, The investment management firm added 1,152,626 additional shares and now holds a total of 29,430,648 shares of LKQ Corporation which is valued at $1,019,771,953. LKQ Corporation makes up approx 2.06% of Artisan Partners Limited Partnership’s portfolio.Garrison Bradford Associates Inc reduced its stake in LKQ by selling 300 shares or 0.41% in the most recent quarter. The Hedge Fund company now holds 72,100 shares of LKQ which is valued at $2,513,406. LKQ Corporation makes up approx 2.37% of Garrison Bradford Associates Inc’s portfolio.

LKQ Corporation closed down -0.53 points or -1.47% at $35.56 with 18,05,587 shares getting traded on Thursday. Post opening the session at $35.9, the shares hit an intraday low of $35.5 and an intraday high of $36.05 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, LKQ Corporation reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.48. The company had revenue of $2450.69 million for the quarter, compared to analysts expectations of $2413.43 million. The company’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.

Many Wall Street Analysts have commented on LKQ Corporation. Susquehanna Initiated LKQ Corporation on Aug 26, 2016 to “Positive”, Price Target of the shares are set at $42.

LKQ Corporation is a distributor of vehicle products including replacement parts components and systems used in the repair and maintenance of vehicles as well as specialty vehicle products and accessories. The company distributes a variety of products to collision and mechanical repair shops including aftermarket collision and mechanical products recycled collision and mechanical products refurbished collision products such as wheels bumper covers and lights and remanufactured engines. It is a provider of alternative vehicle collision replacement products and alternative vehicle mechanical replacement products with its sales processing and distribution facilities reaching markets in the United States and Canada. It also provides alternative vehicle replacement and maintenance products in the United Kingdom and the Benelux region of continental Europe. The Company is organized into four segments: Wholesale – North America; Wholesale – Europe; Self Service and Specialty.

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