Lithia Motors, Inc. $LAD is HITE Hedge Asset Management LLC's 9th Largest Position

Key Points

• HITE Hedge Asset Management LLC increased its stake in Lithia Motors, acquiring an additional 67,773 shares, bringing its total holdings to 164,281 shares, which comprises 3.0% of its portfolio.
• Analysts have mixed opinions on Lithia Motors' stock; while Wells Fargo lowered its price target to $317.00, Bank of America raised it to $500.00, resulting in a consensus price target of $379.00.
• Lithia Motors has announced a quarterly dividend of $0.55 per share, which will be paid on August 22nd, representing an annualized dividend yield of 0.7%.

HITE Hedge Asset Management LLC increased its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 70.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,281 shares of the company's stock after purchasing an additional 67,773 shares during the period. Lithia Motors makes up approximately 3.0% of HITE Hedge Asset Management LLC's portfolio, making the stock its 9th biggest holding. HITE Hedge Asset Management LLC owned approximately 0.63% of Lithia Motors worth $48,223,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Lithia Motors in the first quarter worth approximately $3,697,000. Wellington Management Group LLP grew its position in Lithia Motors by 16.1% during the first quarter. Wellington Management Group LLP now owns 12,226 shares of the company's stock valued at $3,589,000 after acquiring an additional 1,698 shares during the last quarter. Northern Trust Corp grew its position in Lithia Motors by 4.4% during the first quarter. Northern Trust Corp now owns 268,268 shares of the company's stock valued at $78,747,000 after acquiring an additional 11,289 shares during the last quarter. Versor Investments LP bought a new position in Lithia Motors during the first quarter valued at approximately $904,000. Finally, Algert Global LLC grew its position in Lithia Motors by 23.1% during the first quarter. Algert Global LLC now owns 46,745 shares of the company's stock valued at $13,722,000 after acquiring an additional 8,761 shares during the last quarter.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was 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 of the company's stock, valued at $403,236.80. This trade represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.87% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LAD. Bank of America increased their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Guggenheim reduced their price target on shares of Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Wells Fargo & Company reduced their price target on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Citigroup increased their price target on shares of Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, The Goldman Sachs Group began coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Lithia Motors has a consensus rating of "Moderate Buy" and a consensus price target of $379.00.

Lithia Motors Trading Down 0.4%

Shares of NYSE:LAD traded down $1.3260 during trading on Wednesday, reaching $306.6040. 277,514 shares of the company traded hands, compared to its average volume of 366,659. The firm has a market capitalization of $7.86 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 0.48 and a beta of 1.30. Lithia Motors, Inc. has a 52-week low of $255.32 and a 52-week high of $405.67. The company has a current ratio of 1.22, a quick ratio of 0.29 and a debt-to-equity ratio of 1.24. The business's fifty day moving average is $320.35 and its 200-day moving average is $317.88.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, beating analysts' consensus estimates of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%.The firm had revenue of $9.58 billion during the quarter, compared to analyst estimates of $9.56 billion. As a group, analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.55 dividend. The ex-dividend date of this dividend 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%.

Lithia Motors 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.