Retirement Systems of Alabama Sells 3,631 Shares of Lithia Motors, Inc. (NYSE:LAD)

Retirement Systems of Alabama lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 4.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 69,724 shares of the company's stock after selling 3,631 shares during the period. Retirement Systems of Alabama owned 0.27% of Lithia Motors worth $20,467,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vident Advisory LLC raised its stake in Lithia Motors by 4.3% during the 4th quarter. Vident Advisory LLC now owns 780 shares of the company's stock worth $279,000 after buying an additional 32 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Lithia Motors by 5.6% in the 4th quarter. Benjamin Edwards Inc. now owns 700 shares of the company's stock valued at $250,000 after buying an additional 37 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Lithia Motors by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 863 shares of the company's stock worth $308,000 after purchasing an additional 42 shares during the last quarter. Mariner LLC increased its position in Lithia Motors by 2.9% during the fourth quarter. Mariner LLC now owns 1,475 shares of the company's stock worth $527,000 after buying an additional 42 shares during the last quarter. Finally, Isthmus Partners LLC raised its stake in Lithia Motors by 4.6% in the 4th quarter. Isthmus Partners LLC now owns 1,147 shares of the company's stock valued at $410,000 after acquiring an additional 50 shares during the period.

Lithia Motors Price Performance

NYSE LAD traded up $3.87 on Monday, hitting $336.06. 173,308 shares of the company's stock were exchanged, compared to its average volume of 312,230. The company has a current ratio of 1.18, a quick ratio of 0.31 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a 52 week low of $243.04 and a 52 week high of $405.68. The stock has a market cap of $8.75 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 0.53 and a beta of 1.47. The stock has a 50-day moving average of $309.70 and a 200-day moving average of $329.77.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $7.66 EPS for the quarter, missing analysts' consensus estimates of $7.77 by ($0.11). The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a return on equity of 12.74% and a net margin of 2.30%. The firm's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $6.11 EPS. Analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date was Friday, May 9th. This is a boost from Lithia Motors's previous quarterly dividend of $0.53. Lithia Motors's payout ratio is presently 6.93%.

Insider Transactions at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of the firm's 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 completion of the transaction, the director now owns 1,632 shares in the company, valued at $482,974.08. This trade represents a 17.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.87% of the company's stock.

Analysts Set New Price Targets

LAD has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their price objective on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Bank of America lifted their price objective on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Citigroup upgraded shares of Lithia Motors from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Guggenheim cut their price target on Lithia Motors from $417.00 to $356.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Lithia Motors currently has a consensus rating of "Moderate Buy" and a consensus price target of $379.40.

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.