California State Teachers Retirement System Reduces Stake in Lithia Motors, Inc. (NYSE:LAD)

California State Teachers Retirement System reduced its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,983 shares of the company's stock after selling 1,355 shares during the period. California State Teachers Retirement System owned about 0.10% of Lithia Motors worth $8,930,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in Lithia Motors by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock worth $426,968,000 after buying an additional 27,035 shares during the last quarter. Lyrical Asset Management LP increased its holdings in shares of 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 during the last quarter. Steadfast Capital Management LP raised its position in shares of Lithia Motors by 137.8% during the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after acquiring an additional 266,715 shares in the last quarter. Norges Bank purchased a new stake in Lithia Motors during the fourth quarter worth approximately $152,752,000. Finally, Royal London Asset Management Ltd. lifted its stake in Lithia Motors by 18.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock worth $129,398,000 after purchasing an additional 55,142 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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. Guggenheim cut their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $400.00 price target on shares of Lithia Motors in a research report on Thursday, February 20th. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and dropped their price objective for the stock from $415.00 to $375.00 in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $362.40.

Lithia Motors Stock Performance

Lithia Motors stock traded down $3.80 during mid-day trading on Wednesday, reaching $316.28. 213,561 shares of the company were exchanged, compared to its average volume of 315,381. The firm's 50-day simple moving average is $300.53 and its two-hundred day simple moving average is $335.10. Lithia Motors, Inc. has a twelve month low of $243.04 and a twelve month high of $405.68. The firm has a market cap of $8.23 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 4.65 and a beta of 1.47. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19.

Lithia Motors (NYSE:LAD - Get Free Report) last released 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 return on equity of 12.43% and a net margin of 2.21%. The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter last year, the company earned $6.11 EPS. Lithia Motors's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.55 dividend. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 annualized dividend and a dividend yield of 0.70%. Lithia Motors's payout ratio is presently 6.93%.

Insider Activity

In related news, Director Shauna Mcintyre sold 248 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the sale, the director now owns 1,297 shares in the company, valued at $377,219.48. This trade represents a 16.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Congdon Stacy Loretz sold 270 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $298.80, for a total value of $80,676.00. Following the transaction, the director now owns 1,213 shares in the company, valued at $362,444.40. The trade was a 18.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 855 shares of company stock valued at $252,536 over the last quarter. Corporate insiders own 0.87% of the company's stock.

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.