US Bancorp DE Acquires 174 Shares of Lithia Motors, Inc. (LAD)
US Bancorp DE raised its stake in Lithia Motors, Inc. (NYSE:LAD) by 6.2% during the first quarter, Holdings Channel reports. The fund owned 2,994 shares of the company’s stock after buying an additional 174 shares during the period. US Bancorp DE’s holdings in Lithia Motors were worth $256,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in LAD. Tyers Asset Management LLC acquired a new stake in Lithia Motors during the fourth quarter valued at about $103,000. Flinton Capital Management LLC acquired a new stake in Lithia Motors during the fourth quarter valued at about $125,000. State of Alaska Department of Revenue raised its stake in Lithia Motors by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 2,640 shares of the company’s stock valued at $226,000 after buying an additional 110 shares during the last quarter. Federated Investors Inc. PA raised its stake in Lithia Motors by 152,900.0% in the fourth quarter. Federated Investors Inc. PA now owns 3,060 shares of the company’s stock valued at $296,000 after buying an additional 3,058 shares during the last quarter. Finally, Brown Advisory Inc. raised its stake in Lithia Motors by 50.3% in the fourth quarter. Brown Advisory Inc. now owns 4,237 shares of the company’s stock valued at $410,000 after buying an additional 1,418 shares during the last quarter. 99.15% of the stock is owned by institutional investors.
Shares of Lithia Motors, Inc. (LAD) opened at 88.57 on Friday. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 10.82 and a beta of 1.65. The company’s 50-day moving average is $92.01 and its 200-day moving average is $94.44. Lithia Motors, Inc. has a 12-month low of $68.70 and a 12-month high of $105.32.
Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, April 19th. The company reported $1.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.01. Lithia Motors had a net margin of 2.32% and a return on equity of 21.91%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Lithia Motors’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts forecast that Lithia Motors, Inc. will post $8.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Friday, May 12th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, May 10th. Lithia Motors’s payout ratio is presently 13.19%.
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LAD has been the subject of several recent research reports. Zacks Investment Research raised shares of Lithia Motors from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a research report on Wednesday, February 22nd. Jefferies Group LLC set a $115.00 price objective on shares of Lithia Motors and gave the stock a “buy” rating in a research report on Thursday, March 16th. Seaport Global Securities initiated coverage on shares of Lithia Motors in a research report on Wednesday. They issued a “neutral” rating for the company. Morgan Stanley dropped their price objective on shares of Lithia Motors from $115.00 to $106.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Finally, Bank of America Corporation lowered shares of Lithia Motors from a “neutral” rating to an “underperform” rating and set a $92.00 price target for the company. in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Lithia Motors has an average rating of “Hold” and a consensus price target of $105.83.
In other news, Director Sidney B. Deboer sold 35,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $97.00, for a total value of $3,395,000.00. Following the completion of the sale, the director now directly owns 79,625 shares in the company, valued at $7,723,625. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bryan B. Deboer sold 316 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $97.19, for a total transaction of $30,712.04. Following the completion of the sale, the chief executive officer now owns 113,867 shares of the company’s stock, valued at $11,066,733.73. The disclosure for this sale can be found here. Insiders sold 86,300 shares of company stock valued at $8,311,241 over the last 90 days. 7.85% of the stock is owned by corporate insiders.
Lithia Motors Company Profile
Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.
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