Louisiana State Employees Retirement System Sells 200 Shares of Lithia Motors, Inc. $LAD

Louisiana State Employees Retirement System trimmed its holdings in Lithia Motors, Inc. (NYSE:LAD) by 2.7% in the 2nd quarter, Holdings Channel reports. The fund owned 7,300 shares of the company’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Lithia Motors were worth $2,466,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LAD. Coppell Advisory Solutions LLC increased its stake in shares of Lithia Motors by 10,136,710.0% in the 1st quarter. Coppell Advisory Solutions LLC now owns 2,027,362 shares of the company’s stock worth $595,112,000 after acquiring an additional 2,027,342 shares in the last quarter. Park West Asset Management LLC bought a new position in shares of Lithia Motors in the 1st quarter worth about $58,825,000. Millennium Management LLC increased its stake in shares of Lithia Motors by 1,840.6% in the 1st quarter. Millennium Management LLC now owns 181,777 shares of the company’s stock worth $53,359,000 after acquiring an additional 172,410 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Lithia Motors in the 1st quarter worth about $36,762,000. Finally, Nuveen LLC bought a new stake in Lithia Motors during the 1st quarter valued at about $32,824,000.

Lithia Motors Stock Performance

Shares of NYSE LAD opened at $298.33 on Friday. The firm’s 50-day moving average price is $320.38 and its 200-day moving average price is $315.09. The company has a quick ratio of 0.29, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The company has a market cap of $7.65 billion, a PE ratio of 8.84, a PEG ratio of 0.61 and a beta of 1.28. Lithia Motors, Inc. has a 52-week low of $262.10 and a 52-week high of $405.67.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.78 by $0.46. The firm had revenue of $9.58 billion for the quarter, compared to the consensus estimate of $9.56 billion. Lithia Motors had a net margin of 2.39% and a return on equity of 13.21%. As a group, analysts anticipate that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, August 26th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.7%. Lithia Motors’s dividend payout ratio (DPR) is presently 6.52%.

Insider Activity

In related news, Director Shauna Mcintyre sold 256 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $293.05, for a total value of $75,020.80. Following the transaction, the director owned 1,376 shares of the company’s stock, valued at approximately $403,236.80. This trade represents a 15.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

LAD has been the subject of a number of analyst reports. Citigroup raised their price objective on shares of Lithia Motors from $378.00 to $383.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Lithia Motors from $335.00 to $315.00 and set an “overweight” rating for the company in a research note on Tuesday, August 5th. Guggenheim reduced their price objective on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating for the company in a research note on Monday, August 11th. Jefferies Financial Group initiated coverage on shares of Lithia Motors in a research note on Thursday, September 4th. They set a “buy” rating and a $400.00 price objective for the company. Finally, Weiss Ratings lowered shares of Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Lithia Motors has an average rating of “Moderate Buy” and a consensus target price of $376.50.

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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.