Alaska Permanent Fund Corp Cuts Stake in Lithia Motors, Inc. (NYSE:LAD)

Alaska Permanent Fund Corp decreased its holdings in Lithia Motors, Inc. (NYSE:LAD) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,106 shares of the company’s stock after selling 94 shares during the period. Alaska Permanent Fund Corp’s holdings in Lithia Motors were worth $2,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. raised its holdings in Lithia Motors by 1.1% during the 4th quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after buying an additional 38 shares during the last quarter. Fifth Third Bancorp raised its holdings in Lithia Motors by 32.0% during the 3rd quarter. Fifth Third Bancorp now owns 231 shares of the company’s stock valued at $68,000 after buying an additional 56 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Lithia Motors by 0.3% during the 3rd quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock valued at $5,054,000 after buying an additional 59 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Lithia Motors by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock valued at $3,510,000 after buying an additional 60 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its holdings in Lithia Motors by 2.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 3,109 shares of the company’s stock valued at $918,000 after buying an additional 67 shares during the last quarter.

Lithia Motors Stock Down 6.1 %

Shares of Lithia Motors stock traded down $16.15 during trading on Wednesday, hitting $248.34. The company’s stock had a trading volume of 710,466 shares, compared to its average volume of 215,238. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.45 and a current ratio of 1.41. The company has a fifty day simple moving average of $285.26 and a two-hundred day simple moving average of $284.10. The company has a market capitalization of $6.84 billion, a PE ratio of 6.85, a P/E/G ratio of 2.21 and a beta of 1.58. Lithia Motors, Inc. has a 52 week low of $206.69 and a 52 week high of $331.96.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.11 by $0.13. Lithia Motors had a net margin of 3.22% and a return on equity of 17.33%. The company had revenue of $7.67 billion during the quarter, compared to analyst estimates of $7.95 billion. During the same period last year, the business earned $9.05 EPS. Lithia Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities research analysts predict that Lithia Motors, Inc. will post 34.78 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Saturday, March 9th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Thursday, March 7th. Lithia Motors’s dividend payout ratio (DPR) is 5.51%.

Analysts Set New Price Targets

LAD has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. Bank of America upped their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on shares of Lithia Motors from $298.00 to $315.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Evercore ISI assumed coverage on shares of Lithia Motors in a report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 price objective for the company. Finally, Stephens restated an “overweight” rating and issued a $375.00 price objective on shares of Lithia Motors in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lithia Motors has an average rating of “Hold” and an average price target of $334.60.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $297.84, for a total transaction of $40,208.40. Following the sale, the director now directly owns 1,662 shares of the company’s stock, valued at approximately $495,010.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.79% of the stock is currently owned by insiders.

Lithia Motors Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products.