OneAscent Investment Solutions LLC Takes $267,000 Position in Lithia Motors, Inc. $LAD

Key Points

• OneAscent Investment Solutions LLC acquired 910 shares of Lithia Motors, Inc. during the first quarter, valued at approximately $267,000, showing growing institutional interest in the company.
• Analysts have mixed opinions on Lithia Motors, with Bank of America raising its target price to $500 and Wells Fargo lowering it to $317, indicating varying confidence in the stock's potential.
• Lithia Motors announced a quarterly dividend of $0.55, representing an annualized payout of $2.20 and a yield of 0.7%, which reflects the company's ongoing commitment to returning value to shareholders.

OneAscent Investment Solutions LLC bought a new stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 910 shares of the company's stock, valued at approximately $267,000.

Several other large investors have also made changes to their positions in LAD. NBC Securities Inc. bought a new stake in shares of Lithia Motors in the 1st quarter worth about $59,000. UMB Bank n.a. grew its holdings in shares of Lithia Motors by 63.7% in the 1st quarter. UMB Bank n.a. now owns 203 shares of the company's stock worth $60,000 after purchasing an additional 79 shares during the last quarter. CWM LLC lifted its position 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 in the last quarter. GAMMA Investing LLC lifted its position 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Lithia Motors during the 1st quarter worth about $143,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on LAD shares. Wells Fargo & Company reduced their price target on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 30th. Guggenheim cut their target price on shares of Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. JPMorgan Chase & Co. cut their target price on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. The Goldman Sachs Group started coverage on shares of Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 target price on the stock. Finally, Citigroup upped their target price on shares of Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lithia Motors presently has a consensus rating of "Moderate Buy" and an average price target of $379.00.

Lithia Motors Stock Up 0.5%

Shares of LAD traded up $1.57 during mid-day trading on Tuesday, hitting $306.14. 69,361 shares of the company's stock were exchanged, compared to its average volume of 338,151. The company has a market cap of $7.85 billion, a PE ratio of 9.08, a P/E/G ratio of 0.47 and a beta of 1.30. Lithia Motors, Inc. has a 52 week low of $255.32 and a 52 week high of $405.67. The company has a 50-day simple moving average of $321.52 and a 200 day simple moving average of $318.03. 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 issued its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share for the quarter, topping the consensus estimate of $9.78 by $0.46. The company 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%. On average, research analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

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

Insider Buying and Selling at Lithia Motors

In other news, Director Shauna Mcintyre sold 256 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total transaction of $75,020.80. Following the completion of the transaction, the director directly owned 1,376 shares of the company's stock, valued at $403,236.80. This trade represents a 15.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by corporate insiders.

Lithia Motors 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.