State of New Jersey Common Pension Fund D Cuts Holdings in Lithia Motors, Inc. $LAD

Key Points

• The State of New Jersey Common Pension Fund D cut its holdings in Lithia Motors, Inc. by 8.6% in Q1, bringing its total to 8,857 shares worth approximately $2.6 million.
• Several other institutional investors also adjusted their stakes in Lithia Motors, with Commerce Bank increasing its position by 48.3% during Q4.
• Analyst ratings for Lithia Motors are generally positive, with a consensus rating of "Moderate Buy" and a target price of $379.00.

State of New Jersey Common Pension Fund D decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,857 shares of the company's stock after selling 835 shares during the period. State of New Jersey Common Pension Fund D's holdings in Lithia Motors were worth $2,600,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LAD. Mariner LLC grew its position in shares of Lithia Motors by 2.9% during the fourth quarter. Mariner LLC now owns 1,475 shares of the company's stock valued at $527,000 after purchasing an additional 42 shares in the last quarter. Commerce Bank lifted its holdings in shares of Lithia Motors by 48.3% in the 4th quarter. Commerce Bank now owns 952 shares of the company's stock valued at $340,000 after acquiring an additional 310 shares during the last quarter. Forum Financial Management LP bought a new position in shares of Lithia Motors in the 4th quarter valued at about $202,000. MetLife Investment Management LLC lifted its holdings in shares of Lithia Motors by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 15,009 shares of the company's stock valued at $5,365,000 after acquiring an additional 1,181 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Lithia Motors by 4.3% in the 4th quarter. Stifel Financial Corp now owns 18,003 shares of the company's stock valued at $6,435,000 after acquiring an additional 738 shares during the last quarter.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup increased 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 increased their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a report on Monday, June 16th. Wells Fargo & Company lowered their price target on shares of Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their price target on shares of Lithia Motors from $335.00 to $315.00 and set an "overweight" rating for the company in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group assumed coverage on shares of Lithia Motors in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $379.00.

Insider Activity 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 transaction, the director directly owned 1,376 shares of the company's stock, valued at approximately $403,236.80. This trade represents a 15.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.87% of the company's stock.

Lithia Motors Stock Up 0.5%

Shares of NYSE LAD opened at $308.2450 on Friday. The company has a market cap of $7.90 billion, a P/E ratio of 9.14, a PEG ratio of 0.47 and a beta of 1.30. The firm has a 50-day simple moving average of $319.94 and a two-hundred day simple moving average of $317.48. Lithia Motors, Inc. has a 1 year low of $255.32 and a 1 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 issued its earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, topping analysts' consensus estimates of $9.78 by $0.46. The business had revenue of $9.58 billion for the quarter, compared to analyst estimates of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. Research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Dividend Announcement

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

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.

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