New York State Teachers Retirement System reduced its position in Lithia Motors, Inc. (NYSE:LAD – Get Rating) by 2.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 37,108 shares of the company’s stock after selling 845 shares during the period. New York State Teachers Retirement System owned about 0.14% of Lithia Motors worth $7,597,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Lithia Motors by 33.6% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,289,293 shares of the company’s stock worth $276,618,000 after acquiring an additional 324,492 shares during the period. Brave Warrior Advisors LLC grew its stake in Lithia Motors by 14.6% in the 3rd quarter. Brave Warrior Advisors LLC now owns 1,136,208 shares of the company’s stock worth $243,773,000 after acquiring an additional 144,907 shares during the period. State Street Corp grew its stake in Lithia Motors by 3.8% in the 1st quarter. State Street Corp now owns 807,874 shares of the company’s stock worth $242,459,000 after acquiring an additional 29,352 shares during the period. MFN Partners Management LP grew its stake in Lithia Motors by 43.0% in the 1st quarter. MFN Partners Management LP now owns 751,077 shares of the company’s stock worth $225,413,000 after acquiring an additional 225,806 shares during the period. Finally, Royal London Asset Management Ltd. grew its stake in Lithia Motors by 6.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 587,863 shares of the company’s stock worth $126,064,000 after acquiring an additional 33,465 shares during the period. 98.21% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on LAD. Morgan Stanley reduced their target price on shares of Lithia Motors from $200.00 to $198.00 and set an “underweight” rating on the stock in a report on Tuesday, January 17th. TheStreet upgraded shares of Lithia Motors from a “c+” rating to a “b-” rating in a report on Wednesday, February 1st. Wells Fargo & Company raised their target price on shares of Lithia Motors from $233.00 to $262.00 and gave the stock an “equal weight” rating in a report on Thursday, February 16th. StockNews.com began coverage on shares of Lithia Motors in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Guggenheim reduced their target price on shares of Lithia Motors from $343.00 to $332.00 and set a “buy” rating for the company in a report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $301.89.
Lithia Motors Stock Up 1.2 %
Lithia Motors (NYSE:LAD – Get Rating) last posted its earnings results on Wednesday, February 15th. The company reported $9.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $10.11 by ($1.06). The firm had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.08 billion. Lithia Motors had a net margin of 4.43% and a return on equity of 25.41%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.39 earnings per share. On average, equities analysts anticipate that Lithia Motors, Inc. will post 34.27 earnings per share for the current fiscal year.
Lithia Motors Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, March 9th. Lithia Motors’s dividend payout ratio is presently 3.81%.
Insiders Place Their Bets
In related news, Director Shauna Mcintyre sold 167 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $260.00, for a total transaction of $43,420.00. Following the completion of the sale, the director now directly owns 1,672 shares of the company’s stock, valued at $434,720. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.90% of the company’s stock.
Lithia Motors Company Profile
Lithia Motors, Inc engages in the operation of automotive franchises and retail of new and used vehicles. It operates through the following segments: Domestic, Import and Luxury. The Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors, and Ford.
Read More
- Get a free copy of the StockNews.com research report on Lithia Motors (LAD)
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