Iridian Asset Management LLC CT Has $18.03 Million Stake in Lithia Motors, Inc. (NYSE:LAD)

Iridian Asset Management LLC CT grew its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 14.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,424 shares of the company's stock after buying an additional 7,575 shares during the quarter. Lithia Motors accounts for about 5.7% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 7th largest holding. Iridian Asset Management LLC CT owned about 0.23% of Lithia Motors worth $18,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crossmark Global Holdings Inc. raised its position in shares of Lithia Motors by 219.7% during the 1st quarter. Crossmark Global Holdings Inc. now owns 7,391 shares of the company's stock valued at $2,170,000 after acquiring an additional 5,079 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Lithia Motors by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 61,283 shares of the company's stock valued at $17,989,000 after acquiring an additional 211 shares in the last quarter. Teacher Retirement System of Texas raised its position in shares of Lithia Motors by 47.8% during the 1st quarter. Teacher Retirement System of Texas now owns 5,959 shares of the company's stock valued at $1,749,000 after acquiring an additional 1,928 shares in the last quarter. KBC Group NV raised its position in shares of Lithia Motors by 12.1% during the 1st quarter. KBC Group NV now owns 1,178 shares of the company's stock valued at $346,000 after acquiring an additional 127 shares in the last quarter. Finally, Whalen Wealth Management Inc. raised its position in shares of Lithia Motors by 71.0% during the 1st quarter. Whalen Wealth Management Inc. now owns 1,185 shares of the company's stock valued at $348,000 after acquiring an additional 492 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have weighed in on LAD shares. Wells Fargo & Company increased their target price on Lithia Motors from $305.00 to $364.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Bank of America increased their target price on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. The Goldman Sachs Group started coverage on Lithia Motors in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Lithia Motors currently has a consensus rating of "Moderate Buy" and an average target price of $385.00.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of the company's stock in a transaction dated 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 owned 1,632 shares in the company, valued at $482,974.08. This represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.87% of the company's stock.

Lithia Motors Stock Down 1.7%

Lithia Motors stock traded down $6.07 during mid-day trading on Friday, hitting $350.53. The company's stock had a trading volume of 149,551 shares, compared to its average volume of 310,390. The firm's 50 day moving average is $325.88 and its 200 day moving average is $327.52. The company has a market cap of $9.12 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. 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 52-week low of $247.01 and a 52-week high of $405.68.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings results 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). Lithia Motors had a return on equity of 12.74% and a net margin of 2.30%. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.19 billion. During the same period last year, the business earned $6.11 earnings per share. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. On average, analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $2.20 dividend on an annualized basis and a yield of 0.63%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's payout ratio is currently 6.93%.

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.