California Public Employees Retirement System Has $8.52 Million Position in Lithia Motors, Inc. $LAD

California Public Employees Retirement System reduced its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 24.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,118 shares of the company’s stock after selling 10,821 shares during the period. California Public Employees Retirement System’s holdings in Lithia Motors were worth $8,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC grew its holdings in Lithia Motors by 111.4% during the 4th quarter. Clearstead Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after acquiring an additional 49 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Lithia Motors during the fourth quarter worth about $34,000. Quarry LP lifted its stake in shares of Lithia Motors by 101.9% in the fourth quarter. Quarry LP now owns 109 shares of the company’s stock worth $36,000 after acquiring an additional 55 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Lithia Motors during the 4th quarter valued at approximately $38,000. Finally, eCIO Inc. bought a new position in Lithia Motors during the 4th quarter worth approximately $42,000.

Lithia Motors Price Performance

Shares of LAD opened at $341.04 on Friday. The business’s fifty day moving average is $302.18 and its 200 day moving average is $294.13. Lithia Motors, Inc. has a 12-month low of $239.78 and a 12-month high of $360.55. The company has a quick ratio of 0.24, a current ratio of 0.99 and a debt-to-equity ratio of 1.41. The stock has a market cap of $7.78 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.80 and a beta of 1.26.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $7.34 EPS for the quarter, beating analysts’ consensus estimates of $7.06 by $0.28. Lithia Motors had a net margin of 1.88% and a return on equity of 12.49%. The business had revenue of $9.27 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the business posted $7.66 EPS. Lithia Motors’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Lithia Motors, Inc. will post 34.19 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a dividend yield of 0.7%. Lithia Motors’s payout ratio is presently 8.01%.

Lithia Motors declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

LAD has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Lithia Motors from $370.00 to $360.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. JPMorgan Chase & Co. upped their price target on shares of Lithia Motors from $320.00 to $325.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded Lithia Motors from a “hold” rating to a “sell” rating in a report on Monday, July 20th. Citigroup boosted their price objective on Lithia Motors from $326.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, UBS Group raised their target price on Lithia Motors from $348.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $380.33.

Insider Activity

In related news, Director Shauna Mcintyre sold 165 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $305.64, for a total value of $50,430.60. Following the transaction, the director owned 1,681 shares of the company’s stock, valued at approximately $513,780.84. This trade represents a 8.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard J. Bailey, Jr. sold 297 shares of Lithia Motors stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total value of $83,329.29. Following the transaction, the director owned 760 shares of the company’s stock, valued at $213,233.20. This trade represents a 28.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 782 shares of company stock valued at $229,572. 1.08% of the stock is currently owned by insiders.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.