Lithia Motors, Inc. (NYSE:LAD) Holdings Lowered by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lessened its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 76.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,130 shares of the company's stock after selling 55,647 shares during the period. Ensign Peak Advisors Inc owned about 0.06% of Lithia Motors worth $6,123,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Atlas Capital Advisors Inc. acquired a new stake in Lithia Motors during the 4th quarter valued at $34,000. SBI Securities Co. Ltd. acquired a new stake in Lithia Motors during the 4th quarter valued at $35,000. UMB Bank n.a. grew its holdings in Lithia Motors by 69.9% during the 4th quarter. UMB Bank n.a. now owns 124 shares of the company's stock valued at $44,000 after purchasing an additional 51 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after purchasing an additional 37 shares in the last quarter. Finally, Rakuten Securities Inc. grew its holdings in Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock valued at $54,000 after purchasing an additional 142 shares in the last quarter.

Analyst Ratings Changes

A number of research firms recently weighed in on LAD. Guggenheim lowered their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Evercore ISI raised their price objective on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Wells Fargo & Company decreased their price objective on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Benchmark reissued a "buy" rating and set a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Lithia Motors presently has a consensus rating of "Moderate Buy" and an average price target of $361.20.

Insider Activity

In related news, Director Congdon Stacy Loretz sold 270 shares of Lithia Motors stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the sale, the director now directly owns 1,213 shares in the company, valued at $362,444.40. This trade represents a 18.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shauna Mcintyre sold 337 shares of Lithia Motors stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director now owns 1,632 shares in the company, valued at approximately $482,974.08. This represents a 17.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 855 shares of company stock valued at $252,536. Company insiders own 0.87% of the company's stock.

Lithia Motors Stock Performance

Shares of NYSE LAD traded up $3.22 during midday trading on Friday, hitting $323.64. The company's stock had a trading volume of 167,340 shares, compared to its average volume of 314,640. Lithia Motors, Inc. has a 1-year low of $243.04 and a 1-year high of $405.68. The firm's fifty day moving average price is $297.42 and its 200-day moving average price is $339.25. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. The firm has a market cap of $8.42 billion, a P/E ratio of 10.90, a P/E/G ratio of 4.65 and a beta of 1.48.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the firm posted $6.11 earnings per share. The company's quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.55 dividend. The ex-dividend date is Friday, May 9th. This is a positive change from Lithia Motors's previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a dividend yield of 0.68%. Lithia Motors's payout ratio is 6.93%.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.