BNP Paribas Financial Markets Cuts Stock Position in Lithia Motors, Inc. $LAD

BNP Paribas Financial Markets lessened its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 69.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,434 shares of the company's stock after selling 43,683 shares during the quarter. BNP Paribas Financial Markets owned about 0.08% of Lithia Motors worth $6,459,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Clearstead Advisors LLC raised its stake in shares of Lithia Motors by 111.4% during the fourth quarter. Clearstead Advisors LLC now owns 93 shares of the company's stock worth $31,000 after purchasing an additional 49 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lithia Motors during the fourth quarter worth approximately $34,000. eCIO Inc. purchased a new position in Lithia Motors in the fourth quarter worth $42,000. Flagship Harbor Advisors LLC purchased a new position in Lithia Motors in the fourth quarter worth $50,000. Finally, Optiver Holding B.V. purchased a new position in Lithia Motors in the third quarter worth $52,000.

Lithia Motors Stock Up 4.2%

Lithia Motors stock opened at $304.28 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.24 and a current ratio of 0.99. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.64 and a beta of 1.26. Lithia Motors, Inc. has a fifty-two week low of $239.78 and a fifty-two week high of $360.55. The stock's fifty day moving average is $277.39 and its two-hundred day moving average is $298.56.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share for the quarter, beating the consensus estimate of $7.06 by $0.28. The company had revenue of $9.27 billion for the quarter, compared to analyst estimates of $9.22 billion. Lithia Motors had a return on equity of 12.49% and a net margin of 1.88%.Lithia Motors's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.66 earnings per share. Analysts predict that Lithia Motors, Inc. will post 34.37 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 0.7%. This is a positive change from Lithia Motors's previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Friday, May 8th. Lithia Motors's dividend payout ratio is currently 8.01%.

Lithia Motors announced that its board has approved a share repurchase plan on Tuesday, May 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 7.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Lithia Motors from $293.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Weiss Ratings cut Lithia Motors from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, May 4th. Wall Street Zen upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research report on Saturday, May 30th. Barclays cut their price objective on Lithia Motors from $380.00 to $370.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Finally, UBS Group assumed coverage on Lithia Motors in a research report on Wednesday, May 27th. They issued a "buy" rating and a $348.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $368.11.

Insider Buying and Selling at Lithia Motors

In related news, Director Richard J. Bailey, Jr. sold 297 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $280.57, for a total transaction of $83,329.29. Following the sale, the director owned 760 shares of the company's stock, valued at $213,233.20. This trade represents a 28.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shauna Mcintyre sold 245 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $294.64, for a total value of $72,186.80. Following the sale, the director directly owned 1,846 shares in the company, valued at approximately $543,905.44. The trade was a 11.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 617 shares of company stock worth $174,966 in the last three months. 1.08% of the stock is owned by corporate insiders.

About Lithia Motors

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company's core business activities include vehicle sales, financing, insurance, parts and service.

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