JPMorgan Chase & Co. raised its position in Lithia Motors, Inc. (NYSE:LAD) by 22.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 411,459 shares of the company’s stock after purchasing an additional 76,601 shares during the quarter. JPMorgan Chase & Co. owned 1.64% of Lithia Motors worth $48,820,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAD. D.A. Davidson & CO. raised its position in Lithia Motors by 7.3% in the second quarter. D.A. Davidson & CO. now owns 1,104 shares of the company’s stock valued at $104,000 after purchasing an additional 75 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Lithia Motors by 9.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,198 shares of the company’s stock valued at $113,000 after purchasing an additional 105 shares during the period. Public Employees Retirement System of Ohio raised its position in 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 valued at $137,000 after purchasing an additional 146 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Lithia Motors in the third quarter valued at approximately $144,000. Finally, Riverhead Capital Management LLC raised its position in Lithia Motors by 93.8% in the second quarter. Riverhead Capital Management LLC now owns 2,132 shares of the company’s stock valued at $201,000 after purchasing an additional 1,032 shares during the period. 98.47% of the stock is currently owned by institutional investors.

Lithia Motors, Inc. (NYSE LAD) opened at $120.38 on Friday. The company has a market cap of $3,015.80, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.03 and a beta of 1.72. 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 12 month low of $80.88 and a 12 month high of $123.50.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $2.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.19). The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.62 billion. Lithia Motors had a return on equity of 21.02% and a net margin of 2.14%. The business’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.06 EPS. sell-side analysts forecast that Lithia Motors, Inc. will post 8.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 10th were paid a dividend of $0.27 per share. The ex-dividend date was Thursday, November 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.90%. Lithia Motors’s payout ratio is currently 13.12%.

Several equities analysts have commented on the stock. Berenberg Bank assumed coverage on shares of Lithia Motors in a research note on Wednesday, October 4th. They issued a “hold” rating and a $126.00 price target for the company. Zacks Investment Research upgraded 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 note on Wednesday, August 23rd. Finally, KeyCorp restated a “buy” rating and issued a $130.00 price target on shares of Lithia Motors in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $116.29.

In related news, Director Sidney B. Deboer sold 3,051 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $113.25, for a total transaction of $345,525.75. Following the completion of the transaction, the director now owns 433 shares in the company, valued at $49,037.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth E. Roberts sold 534 shares of the business’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $122.62, for a total transaction of $65,479.08. Following the transaction, the director now owns 115,064 shares of the company’s stock, valued at approximately $14,109,147.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,429 shares of company stock valued at $13,917,011. Insiders own 7.85% of the company’s stock.

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

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