Swiss National Bank reduced its holdings in Lithia Motors, Inc. (NYSE:LAD – Free Report) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,940 shares of the company’s stock after selling 2,560 shares during the period. Swiss National Bank’s holdings in Lithia Motors were worth $11,972,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAD. Clearstead Advisors LLC boosted its stake in shares of Lithia Motors by 111.4% during the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after buying an additional 49 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lithia Motors in the fourth quarter valued at about $34,000. Quarry LP raised its holdings in Lithia Motors by 101.9% during the fourth quarter. Quarry LP now owns 109 shares of the company’s stock worth $36,000 after acquiring an additional 55 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Lithia Motors during the fourth quarter valued at approximately $38,000. Finally, eCIO Inc. acquired a new position in Lithia Motors during the fourth quarter valued at approximately $42,000.
Analyst Ratings Changes
Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Lithia Motors from $305.00 to $306.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Citigroup raised their target price on shares of Lithia Motors from $326.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Lithia Motors from $320.00 to $325.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. UBS Group upped their target price on shares of Lithia Motors from $348.00 to $370.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Bank of America raised their target price on shares of Lithia Motors from $350.00 to $417.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $380.33.
Insider Activity at Lithia Motors
In related news, Director Shauna Mcintyre sold 165 shares of Lithia Motors stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $305.64, for a total transaction of $50,430.60. Following the completion of the sale, the director directly owned 1,681 shares of the company’s stock, valued at approximately $513,780.84. This trade represents a 8.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard J. Bailey, Jr. sold 297 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total value of $83,329.29. Following the completion of the sale, the director owned 760 shares of the company’s stock, valued at $213,233.20. This trade represents a 28.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 782 shares of company stock valued at $229,572 over the last 90 days. Company insiders own 1.08% of the company’s stock.
Lithia Motors Price Performance
NYSE:LAD opened at $341.04 on Friday. Lithia Motors, Inc. has a one year low of $239.78 and a one year high of $360.55. The company has a market cap of $7.78 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.80 and a beta of 1.26. The firm’s fifty day moving average price is $302.18 and its two-hundred day moving average price is $294.13. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.24.
Lithia Motors (NYSE:LAD – Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $7.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.06 by $0.28. The company had revenue of $9.27 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. Lithia Motors’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $7.66 EPS. Equities analysts expect that Lithia Motors, Inc. will post 34.19 earnings per share for the current year.
Lithia Motors Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.57 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.28 annualized dividend and a yield of 0.7%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.55. Lithia Motors’s payout ratio is currently 8.01%.
Lithia Motors announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 7.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Lithia Motors Profile
Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.
The company’s core business activities include vehicle sales, financing, insurance, parts and service.
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