Teachers Retirement System of The State of Kentucky lowered its position in shares of Lithia Motors Inc (NYSE:LAD) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,508 shares of the company’s stock after selling 500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lithia Motors were worth $921,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in LAD. Toth Financial Advisory Corp bought a new stake in Lithia Motors during the third quarter worth $517,000. Smith Graham & Co. Investment Advisors LP increased its stake in Lithia Motors by 2.9% in the third quarter. Smith Graham & Co. Investment Advisors LP now owns 99,211 shares of the company’s stock worth $9,477,000 after buying an additional 2,840 shares during the last quarter. GW&K Investment Management LLC increased its stake in Lithia Motors by 19.0% in the third quarter. GW&K Investment Management LLC now owns 494,918 shares of the company’s stock worth $47,275,000 after buying an additional 78,911 shares during the last quarter. Bank of Montreal Can increased its stake in Lithia Motors by 32.5% in the third quarter. Bank of Montreal Can now owns 1,118 shares of the company’s stock worth $107,000 after buying an additional 274 shares during the last quarter. Finally, Strs Ohio increased its stake in Lithia Motors by 180.0% in the third quarter. Strs Ohio now owns 1,400 shares of the company’s stock worth $133,000 after buying an additional 900 shares during the last quarter. Hedge funds and other institutional investors own 97.16% of the company’s stock.
Lithia Motors Inc (NYSE:LAD) opened at 92.31 on Monday. Lithia Motors Inc has a 12-month low of $68.70 and a 12-month high of $105.32. The stock’s 50 day moving average price is $97.86 and its 200-day moving average price is $93.91. The firm has a market cap of $2.32 billion, a PE ratio of 11.96 and a beta of 1.71.
Lithia Motors (NYSE:LAD) last released its earnings results on Wednesday, February 15th. The company reported $1.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.87 by $0.01. Lithia Motors had a return on equity of 22.67% and a net margin of 2.31%. The firm earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Lithia Motors Inc will post $8.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Wednesday, March 8th. Lithia Motors’s dividend payout ratio is currently 13.33%.
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LAD has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Lithia Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, December 13th. Susquehanna Bancshares Inc initiated coverage on Lithia Motors in a research report on Wednesday, February 1st. They set a “neutral” rating and a $104.00 target price for the company. Finally, Jefferies Group LLC set a $115.00 target price on Lithia Motors and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Lithia Motors has a consensus rating of “Buy” and a consensus price target of $113.40.
In other Lithia Motors news, Director Sidney B. Deboer sold 894 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $94.90, for a total value of $84,840.60. Following the completion of the sale, the director now directly owns 29,041 shares of the company’s stock, valued at $2,755,990.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Susan O. Cain sold 1,182 shares of the firm’s stock in a transaction on Tuesday, February 21st. The stock was sold at an average price of $101.82, for a total value of $120,351.24. Following the completion of the sale, the director now directly owns 12,824 shares of the company’s stock, valued at $1,305,739.68. The disclosure for this sale can be found here. Insiders sold 63,676 shares of company stock valued at $6,487,160 over the last three months. Company insiders own 11.41% 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 services. The Company operates in three segments: Domestic, Import and Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles of Chrysler, General Motors and Ford.
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