US Bancorp DE raised its position in Lithia Motors, Inc. (NYSE:LAD) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,116 shares of the company’s stock after buying an additional 122 shares during the period. US Bancorp DE’s holdings in Lithia Motors were worth $294,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. DF Dent & Co. Inc. boosted its position in shares of Lithia Motors by 0.3% in the first quarter. DF Dent & Co. Inc. now owns 4,091 shares of the company’s stock worth $350,000 after buying an additional 11 shares during the period. Capstone Asset Management Co. boosted its position in shares of Lithia Motors by 0.8% in the first quarter. Capstone Asset Management Co. now owns 7,353 shares of the company’s stock worth $630,000 after buying an additional 55 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Lithia Motors by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 2,640 shares of the company’s stock worth $226,000 after buying an additional 110 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after buying an additional 146 shares during the period. Finally, Suntrust Banks Inc. boosted its position in shares of Lithia Motors by 0.6% in the first quarter. Suntrust Banks Inc. now owns 35,342 shares of the company’s stock worth $3,025,000 after buying an additional 215 shares during the period. 99.45% of the stock is owned by institutional investors and hedge funds.
Shares of Lithia Motors, Inc. (NYSE:LAD) traded up 0.62% during mid-day trading on Tuesday, reaching $104.32. 107,578 shares of the company were exchanged. Lithia Motors, Inc. has a 12 month low of $75.85 and a 12 month high of $109.42. The firm has a market capitalization of $2.61 billion, a PE ratio of 12.57 and a beta of 1.73. The company’s 50 day moving average price is $99.87 and its 200 day moving average price is $94.02.
Lithia Motors (NYSE:LAD) last posted its earnings results on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.05. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.45 billion. Lithia Motors had a net margin of 2.26% and a return on equity of 21.66%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.96 earnings per share. Equities analysts anticipate that Lithia Motors, Inc. will post $8.62 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 9th. Lithia Motors’s dividend payout ratio is 13.01%.
A number of brokerages have recently weighed in on LAD. Seaport Global Securities began coverage on shares of Lithia Motors in a research note on Wednesday, June 14th. They set a “neutral” rating for the company. BidaskClub raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Bank of America Corporation lowered shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 target price on the stock. in a research report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and set a $115.00 target price on shares of Lithia Motors in a research report on Wednesday, June 28th. Finally, Morgan Stanley decreased their target price on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $109.17.
In other Lithia Motors news, CEO Bryan B. Deboer sold 7,466 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $95.00, for a total value of $709,270.00. Following the completion of the sale, the chief executive officer now directly owns 114,183 shares of the company’s stock, valued at $10,847,385. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan O. Cain sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $105.64, for a total transaction of $105,640.00. Following the completion of the sale, the director now directly owns 12,242 shares of the company’s stock, valued at $1,293,244.88. The disclosure for this sale can be found here. Insiders sold 209,296 shares of company stock valued at $20,951,694 over the last three months. Insiders own 7.85% of the company’s stock.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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