Lithia Motors, Inc. $LAD Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Lithia Motors, Inc. by 66.6%, now owning 39,200 shares worth approximately $11.5 million after selling 78,145 shares in the first quarter.
• Lithia Motors reported a quarterly earnings of $10.24 per share, exceeding estimates, with revenues reaching $9.58 billion, slightly higher than the anticipated $9.56 billion.
• The company recently announced a quarterly dividend of $0.55 per share, translating to an annual yield of 0.7%, with the payout set for August 22nd.

Russell Investments Group Ltd. reduced its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 66.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,200 shares of the company's stock after selling 78,145 shares during the period. Russell Investments Group Ltd. owned about 0.15% of Lithia Motors worth $11,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abrams Capital Management L.P. raised its position in shares of Lithia Motors by 2.2% in the first quarter. Abrams Capital Management L.P. now owns 2,444,678 shares of the company's stock worth $717,611,000 after acquiring an additional 53,490 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Lithia Motors by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock valued at $426,968,000 after purchasing an additional 27,035 shares in the last quarter. Steadfast Capital Management LP raised its holdings in Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after purchasing an additional 266,715 shares during the period. Madison Asset Management LLC boosted its position in Lithia Motors by 9.9% during the first quarter. Madison Asset Management LLC now owns 280,456 shares of the company's stock worth $82,325,000 after purchasing an additional 25,331 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Lithia Motors by 30.1% during the fourth quarter. Northern Trust Corp now owns 256,979 shares of the company's stock worth $91,852,000 after purchasing an additional 59,525 shares in the last quarter.

Lithia Motors Trading Up 0.7%

Shares of NYSE:LAD traded up $2.1510 during mid-day trading on Thursday, reaching $308.8510. 154,136 shares of the company were exchanged, compared to its average volume of 337,641. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 0.48 and a beta of 1.30. The firm's 50-day simple moving average is $320.35 and its 200 day simple moving average is $317.88. Lithia Motors, Inc. has a 1 year low of $255.32 and a 1 year high of $405.67.

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

Lithia Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.55 dividend. The ex-dividend date is Friday, August 8th. This represents a $2.20 annualized dividend and a dividend yield of 0.7%. Lithia Motors's payout ratio is 6.52%.

Analysts Set New Price Targets

LAD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a research report on Tuesday, August 5th. Wells Fargo & Company lowered their price objective on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 30th. Guggenheim reduced their target price on Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a report on Monday, August 11th. The Goldman Sachs Group initiated coverage on Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target for the company. Finally, Bank of America increased their price objective on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Seven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $379.00.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the completion of the transaction, the director owned 1,376 shares in the company, valued at $403,236.80. The trade was a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.87% of the stock is currently owned by company insiders.

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.