Lithia Motors, Inc. $LAD Position Lessened by Madison Asset Management LLC

Madison Asset Management LLC decreased its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 232,682 shares of the company’s stock after selling 33,361 shares during the period. Madison Asset Management LLC owned 1.00% of Lithia Motors worth $58,105,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Lithia Motors by 3.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,389,870 shares of the company’s stock worth $347,074,000 after purchasing an additional 43,087 shares in the last quarter. Bessemer Group Inc. increased its holdings in Lithia Motors by 68.0% in the first quarter. Bessemer Group Inc. now owns 173 shares of the company’s stock worth $43,000 after buying an additional 70 shares during the last quarter. State of Michigan Retirement System raised its position in Lithia Motors by 1.8% during the first quarter. State of Michigan Retirement System now owns 5,787 shares of the company’s stock valued at $1,445,000 after acquiring an additional 100 shares in the last quarter. Principal Financial Group Inc. raised its position in Lithia Motors by 3.9% during the first quarter. Principal Financial Group Inc. now owns 54,197 shares of the company’s stock valued at $13,534,000 after acquiring an additional 2,037 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Lithia Motors by 5.6% in the first quarter. 180 Wealth Advisors LLC now owns 8,788 shares of the company’s stock valued at $2,195,000 after acquiring an additional 465 shares during the last quarter.

Lithia Motors Price Performance

NYSE LAD opened at $325.37 on Tuesday. The stock has a 50-day simple moving average of $296.96 and a 200 day simple moving average of $293.74. Lithia Motors, Inc. has a twelve month low of $239.78 and a twelve month high of $360.55. The stock has a market capitalization of $7.42 billion, a PE ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 1.26. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.24 and a current ratio of 0.99.

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

Lithia Motors announced that its Board of Directors has approved a share buyback program on Tuesday, May 26th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a $0.57 dividend. The ex-dividend date was Friday, May 8th. This is a positive change 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 dividend payout ratio is 8.01%.

Insiders Place Their Bets

In related news, Director Richard J. Bailey, Jr. sold 297 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $280.57, for a total transaction of $83,329.29. Following the completion of the transaction, the director directly owned 760 shares in the company, valued at $213,233.20. This represents a 28.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shauna Mcintyre sold 245 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $294.64, for a total transaction of $72,186.80. Following the transaction, the director owned 1,846 shares in the company, valued at approximately $543,905.44. The trade was a 11.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 782 shares of company stock worth $229,572 in the last ninety days. 1.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LAD. Wall Street Zen lowered shares of Lithia Motors from a “hold” rating to a “sell” rating in a research note on Monday. Bank of America increased their target price on shares of Lithia Motors from $350.00 to $417.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Zacks Research raised Lithia Motors from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 23rd. Citigroup increased their price objective on Lithia Motors from $326.00 to $365.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, Wells Fargo & Company boosted their target price on Lithia Motors from $305.00 to $306.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $380.33.

About Lithia Motors

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.