Vanguard Group Inc. Has $784.41 Million Position in Lithia Motors, Inc. (NYSE:LAD)

Key Points

• Vanguard Group Inc. has reduced its stake in Lithia Motors by 1.5%, now owning approximately 10.27% of the company, worth about $784.4 million after selling 39,356 shares.
• Analysts have mixed views on Lithia Motors, with Wells Fargo lowering its target price to $317, while Bank of America raised it to $500 and gave the stock a "buy" rating.
• Lithia Motors reported a quarterly EPS of $10.24, exceeding expectations, and announced a quarterly dividend of $0.55, reflecting an annualized yield of 0.7%.

Vanguard Group Inc. lowered its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,672,253 shares of the company's stock after selling 39,356 shares during the quarter. Vanguard Group Inc. owned 10.27% of Lithia Motors worth $784,413,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Steadfast Capital Management LP lifted its holdings in shares of Lithia Motors by 137.8% in the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after buying an additional 266,715 shares during the period. Assenagon Asset Management S.A. acquired a new position in Lithia Motors during the 1st quarter valued at about $36,762,000. Janney Montgomery Scott LLC increased its position in Lithia Motors by 1,865.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 92,293 shares of the company's stock valued at $27,092,000 after buying an additional 87,597 shares in the last quarter. Advent International L.P. increased its holdings in shares of Lithia Motors by 52.9% in the fourth quarter. Advent International L.P. now owns 217,151 shares of the company's stock valued at $77,616,000 after purchasing an additional 75,151 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Lithia Motors by 44,194.6% in the first quarter. GAMMA Investing LLC now owns 73,972 shares of the company's stock worth $21,714,000 after buying an additional 73,805 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Citigroup raised their target price on Lithia Motors from $378.00 to $383.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Guggenheim reduced their target price on Lithia Motors from $383.00 to $380.00 and set a "buy" rating for the company in a report on Monday, August 11th. Bank of America increased their target price on Lithia Motors from $430.00 to $500.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. JPMorgan Chase & Co. lowered their target price on Lithia Motors from $335.00 to $315.00 and set an "overweight" rating on the stock in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group initiated coverage on Lithia Motors in a research report on Tuesday, June 3rd. They issued a "neutral" rating and a $340.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Lithia Motors presently has an average rating of "Moderate Buy" and an average target price of $379.00.

Lithia Motors Stock Performance

Shares of LAD traded down $6.96 during mid-day trading on Friday, reaching $301.14. 321,197 shares of the company's stock traded hands, compared to its average volume of 382,028. Lithia Motors, Inc. has a 12 month low of $255.32 and a 12 month high of $405.67. The stock has a market capitalization of $7.72 billion, a P/E ratio of 8.93, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30. The business's 50-day moving average price is $321.90 and its 200-day moving average price is $319.33. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.29 and a current ratio of 1.22.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.78 by $0.46. The firm 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%. Equities analysts predict that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders 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 yield of 0.7%. Lithia Motors's payout ratio is currently 6.52%.

Insiders Place Their Bets

In related news, Director Shauna Mcintyre sold 256 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the completion of the transaction, the director owned 1,376 shares of the company's stock, valued at $403,236.80. This represents a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

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.