Wellington Management Group LLP Grows Position in Lithia Motors, Inc. (NYSE:LAD)

Wellington Management Group LLP raised its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,528 shares of the company's stock after purchasing an additional 930 shares during the period. Wellington Management Group LLP's holdings in Lithia Motors were worth $3,763,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in shares of Lithia Motors by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock worth $426,968,000 after purchasing an additional 27,035 shares during the last quarter. Lyrical Asset Management LP raised its holdings in shares of Lithia Motors by 2.3% during the fourth quarter. Lyrical Asset Management LP now owns 510,388 shares of the company's stock valued at $182,428,000 after acquiring an additional 11,674 shares during the last quarter. Steadfast Capital Management LP raised its holdings in shares of Lithia Motors by 137.8% during the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after acquiring an additional 266,715 shares during the last quarter. Norges Bank purchased a new position in shares of Lithia Motors in the fourth quarter valued at approximately $152,752,000. Finally, Royal London Asset Management Ltd. boosted its stake in shares of Lithia Motors by 18.0% in the fourth quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock worth $129,398,000 after acquiring an additional 55,142 shares during the last quarter.

Lithia Motors Trading Up 1.3%

NYSE:LAD traded up $4.07 on Friday, reaching $321.43. The company's stock had a trading volume of 194,805 shares, compared to its average volume of 314,643. Lithia Motors, Inc. has a 12-month low of $243.04 and a 12-month high of $405.68. The stock has a 50 day moving average price of $301.01 and a 200 day moving average price of $334.71. The firm has a market cap of $8.37 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 4.65 and a beta of 1.47. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings data 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 12.43% and a net margin of 2.21%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the business posted $6.11 earnings per share. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Friday, May 9th. Lithia Motors's payout ratio is 6.93%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 248 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $290.84, for a total transaction of $72,128.32. Following the sale, the director now owns 1,297 shares of the company's stock, valued at approximately $377,219.48. This represents a 16.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Congdon Stacy Loretz sold 270 shares of Lithia Motors stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the transaction, the director now owns 1,213 shares of the company's stock, valued at approximately $362,444.40. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 855 shares of company stock worth $252,536. 0.87% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on LAD shares. The Goldman Sachs Group began coverage on Lithia Motors in a research note on Tuesday. They issued a "neutral" rating and a $340.00 price objective for the company. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and reduced their target price for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Evercore ISI boosted their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Benchmark reissued a "buy" rating and issued a $400.00 target price on shares of Lithia Motors in a research note on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $362.40.

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.