Raymond James & Associates Decreases Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Raymond James & Associates cut its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,555 shares of the company's stock after selling 4,932 shares during the period. Raymond James & Associates owned approximately 0.09% of Lithia Motors worth $8,085,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Lithia Motors by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,807,407 shares of the company's stock worth $829,112,000 after acquiring an additional 10,649 shares during the last quarter. Brave Warrior Advisors LLC boosted its position in shares of Lithia Motors by 7.2% in the second quarter. Brave Warrior Advisors LLC now owns 1,147,259 shares of the company's stock worth $348,893,000 after acquiring an additional 77,437 shares during the last quarter. State Street Corp boosted its position in shares of Lithia Motors by 3.8% in the first quarter. State Street Corp now owns 807,874 shares of the company's stock worth $242,459,000 after acquiring an additional 29,352 shares during the last quarter. MFN Partners Management LP boosted its position in shares of Lithia Motors by 43.0% in the first quarter. MFN Partners Management LP now owns 751,077 shares of the company's stock worth $225,413,000 after acquiring an additional 225,806 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Lithia Motors by 0.3% in the third quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company's stock worth $200,414,000 after acquiring an additional 2,200 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Thursday. Bank of America cut their price target on shares of Lithia Motors from $440.00 to $380.00 and set a "buy" rating on the stock in a report on Thursday, February 29th. Morgan Stanley raised their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an "underweight" rating in a report on Thursday, February 29th. Wells Fargo & Company raised their price target on shares of Lithia Motors from $298.00 to $315.00 and gave the company an "equal weight" rating in a report on Thursday, February 15th. Finally, Stephens restated an "overweight" rating and issued a $375.00 price target on shares of Lithia Motors in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $336.40.

Lithia Motors Stock Up 0.8 %

Shares of LAD traded up $2.13 during mid-day trading on Monday, reaching $279.13. 212,067 shares of the stock traded hands, compared to its average volume of 196,856. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 2.43 and a beta of 1.58. The stock has a fifty day simple moving average of $292.78 and a 200 day simple moving average of $285.77. Lithia Motors, Inc. has a 12-month low of $205.97 and a 12-month high of $331.96. The company has a quick ratio of 0.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.15.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share for the quarter, topping analysts' consensus estimates of $8.11 by $0.13. Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. The business had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.95 billion. During the same quarter last year, the company earned $9.05 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Sell-side analysts expect that Lithia Motors, Inc. will post 35.27 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Thursday, March 7th. Lithia Motors's payout ratio is currently 5.51%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 135 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the completion of the sale, the director now owns 1,662 shares of the company's stock, valued at $495,010.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.79% of the company's stock.

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.