Iridian Asset Management LLC CT Boosts Position in Lithia Motors, Inc. (NYSE:LAD)

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

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

Lithia Motors Price Performance

Shares of Lithia Motors stock traded up $6.67 on Thursday, reaching $356.76. The stock had a trading volume of 154,453 shares, compared to its average volume of 310,969. 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 $9.29 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.46. The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22. The business's 50 day moving average is $324.80 and its two-hundred day moving average is $327.62.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $9.19 billion. During the same period in the previous year, the company posted $6.11 earnings per share. The company's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.62%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date was Friday, May 9th. Lithia Motors's dividend payout ratio is presently 6.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on LAD shares. The Goldman Sachs Group started coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective 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. Guggenheim lowered their price objective on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted 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. Finally, Citigroup upgraded Lithia Motors from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $415.00 to $375.00 in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $385.00.

Insider Activity

In related news, Director Shauna Mcintyre sold 337 shares of the company'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 value of $99,731.78. Following the transaction, the director directly owned 1,632 shares in the company, valued at approximately $482,974.08. This represents 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 accessible through the SEC website. Insiders own 0.87% of the company's stock.

Lithia Motors Company 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.