South Dakota Investment Council Cuts Holdings in Lithia Motors, Inc. (NYSE:LAD)

South Dakota Investment Council decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,233 shares of the company’s stock after selling 3,200 shares during the period. South Dakota Investment Council’s holdings in Lithia Motors were worth $1,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Lithia Motors during the fourth quarter valued at about $49,000. California Public Employees Retirement System grew its position in Lithia Motors by 15.9% in the fourth quarter. California Public Employees Retirement System now owns 47,207 shares of the company’s stock worth $15,544,000 after acquiring an additional 6,485 shares in the last quarter. Xponance Inc. grew its position in Lithia Motors by 1.1% in the fourth quarter. Xponance Inc. now owns 3,492 shares of the company’s stock worth $1,150,000 after acquiring an additional 38 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Lithia Motors in the fourth quarter worth about $1,345,000. Finally, Rakuten Securities Inc. purchased a new position in Lithia Motors in the fourth quarter worth about $160,000.

Lithia Motors Stock Performance

Lithia Motors stock opened at $248.19 on Thursday. The company has a market capitalization of $6.83 billion, a PE ratio of 6.84, a P/E/G ratio of 2.24 and a beta of 1.58. Lithia Motors, Inc. has a fifty-two week low of $206.69 and a fifty-two week high of $331.96. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.45 and a current ratio of 1.41. The company has a 50 day moving average price of $285.26 and a 200-day moving average price of $284.10.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $8.44 EPS. As a group, equities analysts forecast that Lithia Motors, Inc. will post 34.78 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.53 dividend. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. Lithia Motors’s payout ratio is 5.51%.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 135 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $297.84, for a total value of $40,208.40. Following the completion of the transaction, the director now owns 1,662 shares of the company’s stock, valued at $495,010.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.79% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LAD shares. Wells Fargo & Company lifted their price target on Lithia Motors from $298.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Evercore ISI began coverage on Lithia Motors in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 price target for the company. Stephens reissued an “overweight” rating and issued a $375.00 price objective on shares of Lithia Motors in a research note on Wednesday, February 14th. The Goldman Sachs Group raised their price objective on shares of Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Morgan Stanley raised their price objective 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $334.60.

Lithia Motors Company Profile

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.