Teacher Retirement System of Texas Boosts Position in Lithia Motors, Inc. (NYSE:LAD)

Teacher Retirement System of Texas lifted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 47.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,959 shares of the company's stock after purchasing an additional 1,928 shares during the quarter. Teacher Retirement System of Texas' holdings in Lithia Motors were worth $1,749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of LAD. Dimensional Fund Advisors LP raised its position in Lithia Motors by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company's stock valued at $426,968,000 after purchasing an additional 27,035 shares in the last quarter. Lyrical Asset Management LP raised its position in Lithia Motors by 2.3% in the 4th quarter. Lyrical Asset Management LP now owns 510,388 shares of the company's stock valued at $182,428,000 after purchasing an additional 11,674 shares in the last quarter. Steadfast Capital Management LP raised its position in Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock valued at $164,524,000 after purchasing an additional 266,715 shares in the last quarter. Norges Bank acquired a new stake in Lithia Motors in the 4th quarter valued at about $152,752,000. Finally, Royal London Asset Management Ltd. raised its position in shares of Lithia Motors by 18.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 362,022 shares of the company's stock worth $129,398,000 after acquiring an additional 55,142 shares in the last quarter.

Lithia Motors Price Performance

Shares of Lithia Motors stock traded down $6.07 during trading on Friday, reaching $350.53. The company's stock had a trading volume of 149,551 shares, compared to its average volume of 310,390. The company has a quick ratio of 0.31, a current ratio of 1.18 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a 12-month low of $247.01 and a 12-month high of $405.68. The company has a market capitalization of $9.12 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 0.57 and a beta of 1.46. The business has a 50 day moving average price of $325.88 and a 200-day moving average price of $327.52.

Lithia Motors (NYSE:LAD - Get Free Report) last posted 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 business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $9.19 billion. During the same quarter last year, the firm earned $6.11 earnings per share. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.55 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Lithia Motors's previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.63%. Lithia Motors's payout ratio is 6.93%.

Insider Buying and Selling at Lithia Motors

In related news, Director Shauna Mcintyre sold 337 shares of Lithia Motors stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $295.94, for a total value of $99,731.78. Following the sale, the director directly owned 1,632 shares in the company, valued at $482,974.08. The trade was a 17.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LAD shares. Citigroup raised Lithia Motors from a "neutral" rating to a "buy" rating and cut their target price for the stock from $415.00 to $375.00 in a research report on Wednesday, April 23rd. Guggenheim cut their price target on Lithia Motors from $417.00 to $356.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group began coverage on Lithia Motors in a research report on Tuesday, June 3rd. They set a "neutral" rating and a $340.00 price target on the stock. Bank of America lifted their price target on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research report on Monday, June 16th. Finally, JPMorgan Chase & Co. lowered their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Lithia Motors presently has a consensus rating of "Moderate Buy" and an average price target of $385.00.

About Lithia Motors

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.