New York State Teachers Retirement System lowered its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,018 shares of the company's stock after selling 1,300 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Lithia Motors worth $9,399,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in LAD. Atlas Capital Advisors Inc. bought a new stake in Lithia Motors during the 4th quarter worth about $34,000. SBI Securities Co. Ltd. bought a new stake in Lithia Motors during the 4th quarter worth about $35,000. Rakuten Securities Inc. grew its holdings in Lithia Motors by 1,420.0% during the 4th quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock worth $54,000 after acquiring an additional 142 shares during the last quarter. NBC Securities Inc. bought a new stake in Lithia Motors during the 1st quarter worth about $59,000. Finally, UMB Bank n.a. grew its holdings in Lithia Motors by 63.7% during the 1st quarter. UMB Bank n.a. now owns 203 shares of the company's stock worth $60,000 after acquiring an additional 79 shares during the last quarter.
Lithia Motors Trading Up 0.4%
LAD stock traded up $1.38 during midday trading on Tuesday, hitting $347.60. 106,013 shares of the company's stock were exchanged, compared to its average volume of 310,333. Lithia Motors, Inc. has a one year low of $243.04 and a one year high of $405.68. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.31 and a current ratio of 1.18. The company has a market cap of $9.05 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. The stock's fifty day moving average price is $321.33 and its 200-day moving average price is $327.36.
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 for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm posted $6.11 EPS. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.
Lithia Motors Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a $0.55 dividend. 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 a positive change from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's payout ratio is presently 6.93%.
Insiders Place Their Bets
In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of Lithia Motors 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 owned 1,632 shares of the company's stock, valued at approximately $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.87% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on LAD shares. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and cut their target price for the company from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their target price on shares of Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their target price on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Guggenheim cut their target price on shares of Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Bank of America upped their target price on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, June 16th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $379.40.
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About Lithia Motors
(
Free Report)
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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