California State Teachers Retirement System Decreases Stock Position in Lithia Motors, Inc. $LAD

California State Teachers Retirement System lowered its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,834 shares of the company's stock after selling 1,504 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Lithia Motors worth $7,795,009 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. HB Wealth Management LLC purchased a new stake in shares of Lithia Motors in the 2nd quarter worth $374,000. Nykredit A S purchased a new stake in Lithia Motors in the second quarter valued at $320,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Lithia Motors during the 2nd quarter worth approximately $304,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Lithia Motors during the 2nd quarter worth about $3,511,000. Finally, Benjamin Edwards Inc. acquired a new stake in shares of Lithia Motors in the second quarter valued at about $207,000.

Insider Transactions at Lithia Motors

In other news, Director Stacy Congdon sold 75 shares of Lithia Motors stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $370.73, for a total value of $27,804.75. Following the completion of the transaction, the director owned 2,300 shares in the company, valued at $852,679. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.08% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LAD. Barclays upped their price target on Lithia Motors from $360.00 to $415.00 and gave the company an "overweight" rating in a research report on Wednesday, August 19th. Citigroup raised their target price on shares of Lithia Motors from $365.00 to $455.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on shares of Lithia Motors from $325.00 to $340.00 and gave the stock a "neutral" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded Lithia Motors from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, August 4th. Finally, Wells Fargo & Company boosted their target price on shares of Lithia Motors from $306.00 to $395.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $436.33.

Lithia Motors Trading Down 2.1%

NYSE:LAD traded down $7.58 during mid-day trading on Tuesday, reaching $352.69. The company's stock had a trading volume of 97,796 shares, compared to its average volume of 302,351. Lithia Motors, Inc. has a twelve month low of $239.78 and a twelve month high of $439.49. The stock has a market cap of $7.75 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.75 and a beta of 1.23. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.00 and a quick ratio of 0.21. The company's fifty day simple moving average is $360.31 and its two-hundred day simple moving average is $307.01.

Lithia Motors (NYSE:LAD - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $10.03 EPS for the quarter, topping analysts' consensus estimates of $8.73 by $1.30. Lithia Motors had a net margin of 1.88% and a return on equity of 12.16%. The business had revenue of $9.79 billion for the quarter, compared to the consensus estimate of $9.64 billion. During the same period in the previous year, the firm earned $10.24 EPS. The business's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities analysts predict that Lithia Motors, Inc. will post 36 EPS for the current year.

Lithia Motors announced that its Board of Directors has approved a share repurchase program on Tuesday, May 26th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 0.8%. This is an increase from Lithia Motors's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, August 7th. Lithia Motors's payout ratio is currently 9.29%.

Lithia Motors Company Profile

Lithia Motors, operating under the Lithia & Driveway name, is an automotive retail company that sells new and used vehicles through a network of dealerships and digital channels. Its retail operations represent numerous automobile manufacturers and provide customers with vehicle purchasing, financing, leasing and protection products.

The company also operates parts and service departments that provide maintenance, repairs, collision work and replacement parts. Through its Driveway platform, Lithia offers online vehicle shopping, financing, trade-ins and delivery services, extending its automotive retail model beyond traditional dealership locations.

Founded in 1946 in Ashland, Oregon, Lithia Motors has expanded through acquisitions and dealership development.

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