Bank of New York Mellon Corp Sells 4,633 Shares of Lithia Motors, Inc. (NYSE:LAD)

Bank of New York Mellon Corp reduced its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 233,081 shares of the company's stock after selling 4,633 shares during the period. Bank of New York Mellon Corp owned approximately 0.89% of Lithia Motors worth $68,419,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of LAD. Atlas Capital Advisors Inc. purchased a new stake in Lithia Motors during the fourth quarter valued at $34,000. NBC Securities Inc. purchased a new stake in shares of Lithia Motors during the 1st quarter valued at about $59,000. UMB Bank n.a. lifted its holdings in shares of Lithia Motors by 63.7% in the 1st quarter. UMB Bank n.a. now owns 203 shares of the company's stock valued at $60,000 after acquiring an additional 79 shares during the last quarter. GAMMA Investing LLC grew its position in Lithia Motors by 50.9% in the first quarter. GAMMA Investing LLC now owns 252 shares of the company's stock worth $74,000 after acquiring an additional 85 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Lithia Motors by 22.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company's stock worth $179,000 after acquiring an additional 92 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LAD. Bank of America lifted their target price on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, June 16th. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price objective on the stock. JPMorgan Chase & Co. dropped their price target on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Citigroup raised shares of Lithia Motors from a "neutral" rating to a "buy" rating and reduced their price objective for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Lithia Motors from $305.00 to $364.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.00.

Lithia Motors Price Performance

LAD opened at $350.53 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22. The business's fifty day simple moving average is $325.88 and its 200-day simple moving average is $327.52. The company has a market capitalization of $9.12 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 0.57 and a beta of 1.46. Lithia Motors, Inc. has a 12-month low of $247.01 and a 12-month high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last posted 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 12.74% and a net margin of 2.30%. The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter in the prior year, the company earned $6.11 EPS. The firm's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Friday, May 9th. This is a positive change from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio is currently 6.93%.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the completion of the sale, the director directly owned 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is owned by insiders.

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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