Cetera Investment Advisers Acquires 1,888 Shares of Lithia Motors, Inc. (NYSE:LAD)

Key Points

• Cetera Investment Advisers increased its holdings in Lithia Motors, Inc. by 54.6%, owning a total of 5,347 shares valued at $1.57 million at the end of the last quarter.
• During the same period, several other hedge funds also adjusted their positions in Lithia Motors, indicating strong institutional interest in the company's stock.
• Lithia Motors reported earnings of $10.24 per share for the last quarter, exceeding analysts’ expectations, alongside a declaration of a $0.55 dividend per share that reflects a yield of 0.8%.

Cetera Investment Advisers boosted its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 54.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 5,347 shares of the company's stock after acquiring an additional 1,888 shares during the quarter. Cetera Investment Advisers' holdings in Lithia Motors were worth $1,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LAD. LPL Financial LLC raised its stake in shares of Lithia Motors by 14.2% during the 4th quarter. LPL Financial LLC now owns 4,049 shares of the company's stock valued at $1,447,000 after buying an additional 503 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Lithia Motors by 9.7% in the 4th quarter. Wellington Management Group LLP now owns 10,528 shares of the company's stock valued at $3,763,000 after purchasing an additional 930 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Lithia Motors by 5.3% in the 4th quarter. Wells Fargo & Company MN now owns 30,685 shares of the company's stock valued at $10,968,000 after purchasing an additional 1,546 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Lithia Motors by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 27,974 shares of the company's stock valued at $9,999,000 after purchasing an additional 1,013 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Lithia Motors by 12.2% in the 4th quarter. Bank of Montreal Can now owns 3,274 shares of the company's stock valued at $1,170,000 after purchasing an additional 355 shares in the last quarter.

Lithia Motors Stock Performance

Shares of LAD traded up $8.19 during midday trading on Tuesday, reaching $300.83. 306,787 shares of the stock were exchanged, compared to its average volume of 399,214. Lithia Motors, Inc. has a twelve month low of $255.32 and a twelve month high of $405.67. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 8.92, a PEG ratio of 0.45 and a beta of 1.30. The business's 50-day moving average price is $322.51 and its 200 day moving average price is $320.16. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.78 by $0.46. The firm had revenue of $9.58 billion for the quarter, compared to analysts' expectations of $9.56 billion. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. On average, sell-side analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be given a $0.55 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. Lithia Motors's dividend payout ratio (DPR) is presently 6.52%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LAD shares. JPMorgan Chase & Co. lowered their price objective on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Guggenheim lowered their price objective on Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a report on Monday. The Goldman Sachs Group started coverage on Lithia Motors in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price objective on the stock. Citigroup lifted their price objective on Lithia Motors from $378.00 to $383.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Bank of America lifted their price objective on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Lithia Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $379.00.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the completion of the sale, the director owned 1,376 shares in the company, valued at $403,236.80. This trade represents a 15.69% 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. 0.87% of the stock is currently owned by insiders.

About Lithia Motors

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.