Comerica Bank decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 6.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,685 shares of the company’s stock after selling 3,094 shares during the period. Comerica Bank owned 0.19% of Lithia Motors worth $4,789,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. 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. US Bancorp DE boosted its position in shares of Lithia Motors by 6.2% in the first quarter. US Bancorp DE now owns 2,994 shares of the company’s stock worth $256,000 after buying an additional 174 shares during the period. Flinton Capital Management LLC boosted its position in shares of Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after buying an additional 272 shares during the period. First Trust Advisors LP boosted its position in shares of Lithia Motors by 68.5% in the first quarter. First Trust Advisors LP now owns 20,379 shares of the company’s stock worth $1,745,000 after buying an additional 8,286 shares during the period. Finally, Tyers Asset Management LLC boosted its position in shares of Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after buying an additional 224 shares during the period. 99.45% of the stock is owned by institutional investors.

Lithia Motors, Inc. (LAD) opened at 103.09 on Friday. The firm has a 50-day moving average of $100.81 and a 200 day moving average of $94.23. The stock has a market capitalization of $2.58 billion, a PE ratio of 12.43 and a beta of 1.73. Lithia Motors, Inc. has a one year low of $75.85 and a one year high of $109.42.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Friday, July 28th. The company reported $2.28 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts anticipate that Lithia Motors, Inc. will post $8.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Wednesday, August 9th. Lithia Motors’s dividend payout ratio is presently 13.01%.

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A number of research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target for the company in a research report on Wednesday. Morgan Stanley reissued an “overweight” rating and set a $116.00 price target (up from $106.00) on shares of Lithia Motors in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and set a $125.00 price target on shares of Lithia Motors in a research report on Thursday, August 3rd. Bank of America Corporation cut shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a research report on Friday, June 16th. Finally, Seaport Global Securities assumed coverage on shares of Lithia Motors in a research report on Wednesday, June 14th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $112.00.

In related news, Director Sidney B. Deboer sold 7,090 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $105.00, for a total value of $744,450.00. Following the completion of the transaction, the director now directly owns 21,421 shares of the company’s stock, valued at $2,249,205. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bryan B. Deboer sold 316 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $97.19, for a total value of $30,712.04. Following the completion of the transaction, the chief executive officer now directly owns 113,867 shares of the company’s stock, valued at $11,066,733.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 243,135 shares of company stock valued at $24,485,918. Corporate 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.

Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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