Teachers Retirement System of The State of Kentucky reduced its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 44.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,873 shares of the company’s stock after selling 3,909 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lithia Motors were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in LAD. Rockefeller Capital Management L.P. raised its holdings in shares of Lithia Motors by 330.0% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 86 shares of the company’s stock worth $29,000 after buying an additional 66 shares in the last quarter. Berman Capital Advisors LLC grew its position in Lithia Motors by 88.5% during the 3rd quarter. Berman Capital Advisors LLC now owns 98 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the last quarter. American National Bank bought a new stake in Lithia Motors during the 3rd quarter worth $32,000. Fifth Third Bancorp grew its position in Lithia Motors by 40.6% during the 3rd quarter. Fifth Third Bancorp now owns 135 shares of the company’s stock worth $43,000 after acquiring an additional 39 shares during the last quarter. Finally, Financial Management Professionals Inc. grew its position in shares of Lithia Motors by 24.4% in the 3rd quarter. Financial Management Professionals Inc. now owns 194 shares of the company’s stock valued at $62,000 after buying an additional 38 shares during the last quarter. 91.43% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on LAD. Morgan Stanley cut their target price on Lithia Motors from $335.00 to $303.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 17th. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $324.00 price objective for the company in a research note on Tuesday, December 21st. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of Lithia Motors in a report on Friday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $410.67.
Lithia Motors (NYSE:LAD) last released its earnings results on Tuesday, October 19th. The company reported $11.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $9.30 by $1.91. Lithia Motors had a net margin of 4.67% and a return on equity of 26.99%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same period last year, the business earned $6.89 earnings per share. The business’s revenue was up 70.4% on a year-over-year basis. On average, analysts predict that Lithia Motors, Inc. will post 38.35 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Investors of record on Friday, November 12th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 0.46%. Lithia Motors’s payout ratio is currently 4.16%.
In related news, Director Shauna Mcintyre sold 270 shares of the business’s stock in a transaction that occurred on Wednesday, December 15th. The shares were sold at an average price of $277.53, for a total value of $74,933.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by insiders.
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 comprises of retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors, and Ford.
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