Royal London Asset Management Ltd. Decreases Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Royal London Asset Management Ltd. trimmed its position in shares of Lithia Motors, Inc. (NYSE:LADFree Report) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 616,854 shares of the company’s stock after selling 34,372 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Lithia Motors were worth $203,118,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Lithia Motors during the fourth quarter worth $123,976,000. Cadian Capital Management LP acquired a new position in shares of Lithia Motors during the 4th quarter worth approximately $105,370,000. FMR LLC boosted its holdings in shares of Lithia Motors by 10.3% during the 3rd quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after purchasing an additional 45,977 shares during the last quarter. Boston Partners grew its position in shares of Lithia Motors by 67.5% in the fourth quarter. Boston Partners now owns 82,915 shares of the company’s stock valued at $26,734,000 after purchasing an additional 33,405 shares in the last quarter. Finally, Kensico Capital Management Corp increased its holdings in shares of Lithia Motors by 41.3% in the third quarter. Kensico Capital Management Corp now owns 113,000 shares of the company’s stock valued at $33,372,000 after purchasing an additional 33,000 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LAD. StockNews.com upgraded Lithia Motors from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Bank of America upped their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Morgan Stanley lifted their target price on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised shares of Lithia Motors from a “neutral” rating to an “overweight” rating and increased their price target for the company from $270.00 to $280.00 in a research note on Monday, June 10th. Finally, Wells Fargo & Company cut their price target on shares of Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $319.45.

Check Out Our Latest Analysis on LAD

Insiders Place Their Bets

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the completion of the transaction, the director now owns 2,228 shares in the company, valued at approximately $566,847.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.79% of the stock is owned by company insiders.

Lithia Motors Trading Down 2.0 %

Shares of LAD stock traded down $5.06 during trading hours on Friday, hitting $251.75. The company had a trading volume of 283,452 shares, compared to its average volume of 259,503. Lithia Motors, Inc. has a fifty-two week low of $231.36 and a fifty-two week high of $331.96. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. The company’s fifty day moving average is $261.44 and its 200 day moving average is $283.43. The stock has a market capitalization of $6.90 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 2.93 and a beta of 1.62.

Lithia Motors (NYSE:LADGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.44 earnings per share. Research analysts expect that Lithia Motors, Inc. will post 28.79 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.53 dividend. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend was Thursday, May 9th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.26%.

About Lithia Motors

(Free Report)

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.

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

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