Royal Bank of Canada Reduces Holdings in Lithia Motors, Inc. $LAD

Royal Bank of Canada lowered its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 89,884 shares of the company's stock after selling 10,216 shares during the quarter. Royal Bank of Canada owned approximately 0.35% of Lithia Motors worth $26,385,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. NBC Securities Inc. acquired a new stake in Lithia Motors during the first quarter worth approximately $59,000. UMB Bank n.a. boosted its position in Lithia Motors by 63.7% during the first 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. CWM LLC boosted its position in Lithia Motors by 30.1% during the first quarter. CWM LLC now owns 212 shares of the company's stock worth $62,000 after acquiring an additional 49 shares during the last quarter. GAMMA Investing LLC boosted its position in Lithia Motors by 50.9% during the first quarter. GAMMA Investing LLC now owns 252 shares of the company's stock worth $74,000 after acquiring an additional 85 shares during the last quarter. Finally, Quarry LP acquired a new stake in Lithia Motors during the first quarter worth approximately $136,000.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 256 shares of Lithia Motors stock in a transaction 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 sale, the director owned 1,376 shares of the company's stock, valued at $403,236.80. The trade was a 15.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

LAD has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Bank of America decreased their price target on shares of Lithia Motors from $500.00 to $385.00 and set a "buy" rating on the stock in a report on Wednesday. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price target on the stock. Guggenheim decreased their price target on shares of Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Finally, Jefferies Financial Group initiated coverage on shares of Lithia Motors in a report on Thursday, September 4th. They issued a "buy" rating and a $400.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $370.45.

Lithia Motors Trading Down 2.8%

Shares of LAD stock traded down $9.66 during mid-day trading on Friday, reaching $334.34. The company's stock had a trading volume of 234,700 shares, compared to its average volume of 287,090. The company's 50 day simple moving average is $319.94 and its 200-day simple moving average is $313.74. Lithia Motors, Inc. has a 12-month low of $262.10 and a 12-month high of $405.67. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $8.57 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 0.70 and a beta of 1.31.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating analysts' consensus estimates of $9.78 by $0.46. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. The business had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. On average, research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

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

Lithia Motors Announces Dividend

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

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.