Harbor Capital Advisors Inc. Has $3.54 Million Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Harbor Capital Advisors Inc. grew its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 86.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,053 shares of the company's stock after purchasing an additional 5,592 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Lithia Motors were worth $3,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LAD. Empowered Funds LLC bought a new position in Lithia Motors during the 4th quarter worth $247,000. Essex Financial Services Inc. bought a new position in shares of Lithia Motors during the fourth quarter worth about $211,000. Consolidated Planning Corp increased its holdings in shares of Lithia Motors by 55.7% in the 4th quarter. Consolidated Planning Corp now owns 2,891 shares of the company's stock worth $1,033,000 after acquiring an additional 1,034 shares during the period. V Square Quantitative Management LLC lifted its position in Lithia Motors by 33.9% in the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after purchasing an additional 37 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Lithia Motors by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 863 shares of the company's stock valued at $308,000 after purchasing an additional 42 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and lowered their price target for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Guggenheim reduced their price target on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Finally, Evercore ISI boosted their target price on Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Lithia Motors currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.40.

Insider Activity

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

Lithia Motors Price Performance

Shares of NYSE LAD traded down $5.59 during trading on Friday, hitting $323.45. The company had a trading volume of 185,142 shares, compared to its average volume of 313,895. Lithia Motors, Inc. has a 52 week low of $243.04 and a 52 week high of $405.68. The business's 50-day moving average is $306.09 and its 200 day moving average is $332.06. The company has a market cap of $8.42 billion, a P/E ratio of 10.90, a PEG 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 announced its 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). The company had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The company's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $6.11 earnings per share. Equities research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's dividend payout ratio (DPR) is 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.