US Bancorp DE Sells 1,048 Shares of Lithia Motors, Inc. $LAD

Key Points

• US Bancorp DE has significantly reduced its holdings in Lithia Motors by 66.4%, selling 1,048 shares during the first quarter and now owning 531 shares valued at $156,000.
• Lithia Motors reported earnings of $10.24 per share for the last quarter, surpassing analysts' expectations of $9.78, and generated revenue of $9.58 billion.
• The company has announced a quarterly dividend of $0.55 per share, set to be paid on August 22nd, with a current annualized yield of 0.7%.

US Bancorp DE decreased its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 66.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 531 shares of the company's stock after selling 1,048 shares during the period. US Bancorp DE's holdings in Lithia Motors were worth $156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LAD. Vident Advisory LLC increased its stake in Lithia Motors by 4.3% in the 4th quarter. Vident Advisory LLC now owns 780 shares of the company's stock worth $279,000 after purchasing an additional 32 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Lithia Motors by 1.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,421 shares of the company's stock valued at $711,000 after acquiring an additional 35 shares in the last quarter. Benjamin Edwards Inc. grew its stake 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 in the last quarter. Mariner LLC grew its stake in shares of Lithia Motors by 2.9% in the 4th quarter. Mariner LLC now owns 1,475 shares of the company's stock valued at $527,000 after buying an additional 42 shares in the last quarter. Finally, CWM LLC grew its stake in shares of Lithia Motors by 30.1% in the 1st quarter. CWM LLC now owns 212 shares of the company's stock valued at $62,000 after buying an additional 49 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 5th. Guggenheim decreased their target price on Lithia Motors from $383.00 to $380.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Bank of America upped their price target on Lithia Motors from $430.00 to $500.00 and gave the company a "buy" rating in a research note on Monday, June 16th. Wells Fargo & Company cut their target price on Lithia Motors from $364.00 to $317.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on Lithia Motors in a research note on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Lithia Motors currently has an average rating of "Moderate Buy" and a consensus target price of $379.00.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 256 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 represents a 15.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.87% of the company's stock.

Lithia Motors Stock Performance

NYSE:LAD traded up $0.6060 during mid-day trading on Thursday, hitting $307.3060. 8,068 shares of the stock were exchanged, compared to its average volume of 336,989. The stock has a market capitalization of $7.88 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22. The firm's 50-day simple moving average is $320.35 and its 200 day simple moving average is $317.88. Lithia Motors, Inc. has a fifty-two week low of $255.32 and a fifty-two week high of $405.67.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly 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 company had revenue of $9.58 billion during the quarter, compared to analysts' expectations of $9.56 billion. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. As a group, equities analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

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

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.