Bank of America Corp DE Sells 47,871 Shares of Lithia Motors, Inc. (NYSE:LAD)

Bank of America Corp DE lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 46.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,636 shares of the company's stock after selling 47,871 shares during the period. Bank of America Corp DE owned approximately 0.21% of Lithia Motors worth $19,886,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in Lithia Motors by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock valued at $426,968,000 after acquiring an additional 27,035 shares in the last quarter. Lyrical Asset Management LP lifted its stake in Lithia Motors by 2.3% in the 4th quarter. Lyrical Asset Management LP now owns 510,388 shares of the company's stock valued at $182,428,000 after acquiring an additional 11,674 shares in the last quarter. Norges Bank bought a new stake in Lithia Motors in the 4th quarter valued at approximately $152,752,000. Royal London Asset Management Ltd. lifted its stake in Lithia Motors by 18.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock valued at $129,398,000 after acquiring an additional 55,142 shares in the last quarter. Finally, Egerton Capital UK LLP bought a new stake in Lithia Motors in the 4th quarter valued at approximately $113,250,000.

Wall Street Analyst Weigh In

Several research firms have commented on LAD. Evercore ISI boosted their target price on Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Wells Fargo & Company cut their target price on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group lowered their price target on Lithia Motors from $385.00 to $328.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and lowered their price target for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered their price target on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Lithia Motors presently has an average rating of "Moderate Buy" and a consensus price target of $361.20.

Insider Buying and Selling at Lithia Motors

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

Lithia Motors Stock Down 0.5%

LAD stock opened at $322.05 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $8.38 billion, a PE ratio of 10.85, a PEG ratio of 4.65 and a beta of 1.48. Lithia Motors, Inc. has a 1-year low of $243.04 and a 1-year high of $405.68. The business's 50 day simple moving average is $297.89 and its 200 day simple moving average is $339.18.

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

Lithia Motors Increases Dividend

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

Lithia Motors 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.

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