GW&K Investment Management LLC lowered its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 382,730 shares of the company's stock after selling 18,404 shares during the period. Lithia Motors accounts for 1.2% of GW&K Investment Management LLC's investment portfolio, making the stock its 4th largest position. GW&K Investment Management LLC owned 1.39% of Lithia Motors worth $126,026,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Lithia Motors during the third quarter worth about $32,000. Denali Advisors LLC boosted its stake in Lithia Motors by 5,050.0% during the fourth quarter. Denali Advisors LLC now owns 103 shares of the company's stock worth $34,000 after buying an additional 101 shares during the period. JFS Wealth Advisors LLC boosted its stake in Lithia Motors by 509.5% during the third quarter. JFS Wealth Advisors LLC now owns 128 shares of the company's stock worth $38,000 after buying an additional 107 shares during the period. GAMMA Investing LLC purchased a new position in Lithia Motors during the fourth quarter worth about $49,000. Finally, Fifth Third Bancorp boosted its stake in Lithia Motors by 32.0% during the third quarter. Fifth Third Bancorp now owns 231 shares of the company's stock worth $68,000 after buying an additional 56 shares during the period.
Lithia Motors Trading Down 0.6 %
Shares of NYSE:LAD traded down $1.49 during trading on Monday, reaching $266.97. 204,721 shares of the stock were exchanged, compared to its average volume of 227,696. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17. Lithia Motors, Inc. has a 12-month low of $227.41 and a 12-month high of $331.96. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 7.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.59. The firm's 50-day moving average price is $273.89 and its 200 day moving average price is $284.69.
Lithia Motors (NYSE:LAD - Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The firm had revenue of $8.56 billion for the quarter, compared to analysts' expectations of $8.58 billion. During the same quarter in the previous year, the firm posted $8.44 EPS. The firm's revenue for the quarter was up 22.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 28.78 earnings per share for the current fiscal year.
Lithia Motors Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given 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 annualized dividend and a yield of 0.79%. Lithia Motors's dividend payout ratio (DPR) is 6.26%.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on LAD. 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 report on Thursday, February 15th. Bank of America raised their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Citigroup cut their price objective on shares of Lithia Motors from $320.00 to $280.00 and set a "neutral" rating on the stock in a report on Thursday, April 25th. Guggenheim cut shares of Lithia Motors from a "buy" rating to a "neutral" rating in a report on Friday. Finally, JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $285.00 to $270.00 and set a "neutral" rating on the stock in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $318.55.
Read Our Latest Stock Report on LAD
Insider Activity
In other news, Director Shauna Mcintyre sold 138 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the transaction, the director now directly owns 2,228 shares in the company, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.79% of the company's stock.
Lithia Motors Profile
(Free Report)
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.
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