California State Teachers Retirement System cut its holdings in Lithia Motors, Inc. (NYSE:LAD) by 11.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,325 shares of the company’s stock after selling 5,489 shares during the period. California State Teachers Retirement System owned 0.17% of Lithia Motors worth $3,894,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Northern Trust Corp increased its stake in Lithia Motors by 2.7% during the second quarter. Northern Trust Corp now owns 322,984 shares of the company’s stock valued at $30,436,000 after acquiring an additional 8,352 shares during the period. Vanguard Group Inc. boosted its holdings in Lithia Motors by 2.8% during the second quarter. Vanguard Group Inc. now owns 2,097,189 shares of the company’s stock valued at $197,618,000 after purchasing an additional 56,888 shares in the last quarter. First Trust Advisors LP boosted its holdings in Lithia Motors by 23.6% during the second quarter. First Trust Advisors LP now owns 25,190 shares of the company’s stock valued at $2,374,000 after purchasing an additional 4,811 shares in the last quarter. Stifel Financial Corp boosted its holdings in Lithia Motors by 41.5% during the second quarter. Stifel Financial Corp now owns 12,469 shares of the company’s stock valued at $1,204,000 after purchasing an additional 3,654 shares in the last quarter. Finally, Brighton Jones LLC acquired a new stake in Lithia Motors during the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 98.47% of the company’s stock.
LAD has been the topic of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $116.00 target price (up from $106.00) on shares of Lithia Motors in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $125.00 target price on shares of Lithia Motors in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price objective for the company in a research report on Wednesday, August 23rd. KeyCorp restated a “buy” rating and issued a $130.00 price objective (up previously from $119.00) on shares of Lithia Motors in a research report on Wednesday, October 4th. Finally, Berenberg Bank assumed coverage on shares of Lithia Motors in a research report on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $116.29.
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Shares of Lithia Motors, Inc. (NYSE LAD) opened at $113.03 on Tuesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.21 and a quick ratio of 0.26. Lithia Motors, Inc. has a 1 year low of $80.88 and a 1 year high of $123.50. The company has a market cap of $2,842.97, a price-to-earnings ratio of 14.06, a P/E/G ratio of 0.97 and a beta of 1.72.
Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, October 25th. The company reported $2.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.19). Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same period in the previous year, the company posted $2.06 earnings per share. Lithia Motors’s revenue for the quarter was up 18.7% on a year-over-year basis. research analysts expect that Lithia Motors, Inc. will post 8.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.27 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.96%. Lithia Motors’s dividend payout ratio is 13.12%.
In related news, insider George Chun-Wai Liang sold 1,970 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $105.62, for a total value of $208,071.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sidney B. Deboer sold 65,711 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $121.77, for a total transaction of $8,001,628.47. Following the completion of the sale, the director now owns 1,421 shares of the company’s stock, valued at $173,035.17. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,581 shares of company stock valued at $16,905,722. Company insiders own 7.85% of the company’s stock.
About Lithia Motors
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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