Crossmark Global Holdings Inc. Boosts Position in Lithia Motors, Inc. (NYSE:LAD)

Crossmark Global Holdings Inc. increased its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 219.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,391 shares of the company's stock after purchasing an additional 5,079 shares during the period. Crossmark Global Holdings Inc.'s holdings in Lithia Motors were worth $2,170,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Lithia Motors during the 4th quarter worth $152,752,000. Egerton Capital UK LLP purchased a new position in Lithia Motors during the fourth quarter worth about $113,250,000. Steadfast Capital Management LP increased its position in shares of Lithia Motors by 137.8% during the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after acquiring an additional 266,715 shares during the last quarter. Madison Investment Advisors LLC acquired a new stake in shares of Lithia Motors during the fourth quarter valued at about $91,190,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Lithia Motors in the 1st quarter valued at approximately $36,762,000.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LAD shares. Guggenheim dropped their target price on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Bank of America raised their price target on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Wells Fargo & Company lifted their price objective on Lithia Motors from $305.00 to $364.00 and gave the company an "equal weight" rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and dropped their target price for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $385.00.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 337 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total transaction of $99,731.78. Following the completion of the sale, the director owned 1,632 shares in the company, valued at $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is currently owned by insiders.

Lithia Motors Stock Down 1.6%

Shares of Lithia Motors stock traded down $5.85 on Friday, reaching $350.76. 41,541 shares of the company were exchanged, compared to its average volume of 309,904. The stock's 50 day moving average price is $324.80 and its 200-day moving average price is $327.62. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.18 and a quick ratio of 0.31. Lithia Motors, Inc. has a 1-year low of $247.01 and a 1-year high of $405.68. The company has a market cap of $9.13 billion, a P/E ratio of 11.06, a price-to-earnings-growth ratio of 0.56 and a beta of 1.46.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.19 billion. Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. Lithia Motors's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.11 earnings per share. As a group, equities analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current 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 $0.55 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.63%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio is presently 6.93%.

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.