New York State Teachers Retirement System Buys 2,564 Shares of Lithia Motors, Inc. $LAD

Key Points

• The New York State Teachers Retirement System increased its stake in Lithia Motors by 8.0% during the 2nd quarter, owning 34,582 shares valued at approximately $11.68 million.
• Lithia Motors recently declared a quarterly dividend of $0.55 per share, resulting in an annualized yield of 0.7% and a payout ratio of 6.52%.
• The company reported $10.24 EPS for the last quarter, exceeding the expected $9.78, and had a revenue of $9.58 billion.

New York State Teachers Retirement System lifted its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 8.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,582 shares of the company's stock after purchasing an additional 2,564 shares during the period. New York State Teachers Retirement System owned 0.13% of Lithia Motors worth $11,682,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in LAD. Parallel Advisors LLC boosted its position in shares of Lithia Motors by 106.2% in the 2nd quarter. Parallel Advisors LLC now owns 134 shares of the company's stock worth $45,000 after purchasing an additional 69 shares during the last quarter. eCIO Inc. acquired a new stake in Lithia Motors during the 1st quarter worth $55,000. CWM LLC raised its stake in Lithia Motors by 30.1% during the 1st quarter. CWM LLC now owns 212 shares of the company's stock worth $62,000 after buying an additional 49 shares during the period. GAMMA Investing LLC raised its stake in Lithia Motors by 50.9% during the 1st quarter. GAMMA Investing LLC now owns 252 shares of the company's stock worth $74,000 after buying an additional 85 shares during the period. Finally, UMB Bank n.a. raised its stake in Lithia Motors by 29.1% during the 2nd quarter. UMB Bank n.a. now owns 262 shares of the company's stock worth $89,000 after buying an additional 59 shares during the period.

Lithia Motors Price Performance

NYSE:LAD opened at $310.99 on Friday. The company has a market cap of $7.97 billion, a P/E ratio of 9.22, a P/E/G ratio of 0.65 and a beta of 1.28. The firm's fifty day moving average price is $321.85 and its two-hundred day moving average price is $315.55. Lithia Motors, Inc. has a one year low of $262.10 and a one year high of $405.67. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 0.29.

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

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 8th. Lithia Motors's dividend payout ratio (DPR) is presently 6.52%.

Lithia Motors declared that its board has authorized a stock repurchase program on Tuesday, August 26th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts recently commented on LAD shares. Weiss Ratings downgraded Lithia Motors from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Guggenheim dropped their price objective on Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wells Fargo & Company raised their price objective on Lithia Motors from $317.00 to $327.00 and gave the stock an "equal weight" rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on Lithia Motors from $320.00 to $350.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 14th. Finally, Bank of America cut their price target on Lithia Motors from $500.00 to $385.00 and set a "buy" rating on the stock in a report on Wednesday, September 10th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $381.00.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 256 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $293.05, for a total transaction of $75,020.80. Following the transaction, the director owned 1,376 shares in the company, valued at $403,236.80. This trade represents a 15.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is 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.

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