First Hawaiian Bank boosted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD – Get Rating) by 17.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,413 shares of the company’s stock after buying an additional 351 shares during the quarter. First Hawaiian Bank’s holdings in Lithia Motors were worth $724,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Lithia Motors by 246.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,009,919 shares of the company’s stock valued at $299,895,000 after purchasing an additional 718,639 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Lithia Motors by 40.5% in the fourth quarter. Geode Capital Management LLC now owns 512,096 shares of the company’s stock valued at $152,066,000 after purchasing an additional 147,572 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Lithia Motors in the fourth quarter valued at approximately $26,029,000. Millennium Management LLC grew its position in shares of Lithia Motors by 28.4% in the fourth quarter. Millennium Management LLC now owns 371,352 shares of the company’s stock valued at $110,273,000 after purchasing an additional 82,238 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Lithia Motors by 71.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 194,941 shares of the company’s stock valued at $57,887,000 after buying an additional 81,257 shares during the period. 92.83% of the stock is currently owned by hedge funds and other institutional investors.
NYSE LAD opened at $271.27 on Thursday. The business has a fifty day moving average price of $291.14 and a two-hundred day moving average price of $300.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.38 and a quick ratio of 0.42. Lithia Motors, Inc. has a fifty-two week low of $252.56 and a fifty-two week high of $387.63. The stock has a market capitalization of $7.85 billion, a PE ratio of 6.46, a PEG ratio of 0.92 and a beta of 1.48.
The business also recently declared a quarterly dividend, which was paid on Friday, May 27th. Stockholders of record on Friday, May 13th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, May 12th. This is an increase from Lithia Motors’s previous quarterly dividend of $0.35. This represents a $1.68 annualized dividend and a dividend yield of 0.62%. Lithia Motors’s dividend payout ratio is 4.00%.
In related news, Director Sidney B. Deboer sold 998 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $310.01, for a total value of $309,389.98. Following the completion of the sale, the director now directly owns 50,779 shares in the company, valued at $15,741,997.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sidney B. Deboer sold 5,000 shares of the stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $305.00, for a total value of $1,525,000.00. Following the completion of the sale, the director now owns 50,779 shares of the company’s stock, valued at $15,487,595. The disclosure for this sale can be found here. Insiders sold 10,998 shares of company stock valued at $3,394,840 over the last 90 days. 1.70% of the stock is currently owned by company insiders.
Several equities research analysts recently issued reports on LAD shares. Guggenheim boosted their price target on Lithia Motors from $542.00 to $578.00 and gave the company a “buy” rating in a research note on Thursday, April 21st. Morgan Stanley cut their price target on Lithia Motors from $300.00 to $260.00 and set an “underweight” rating for the company in a research note on Friday, May 20th. Wells Fargo & Company cut their price target on Lithia Motors from $362.00 to $350.00 and set an “overweight” rating for the company in a research note on Thursday, April 21st. JPMorgan Chase & Co. cut their price target on Lithia Motors from $425.00 to $380.00 and set an “overweight” rating for the company in a research note on Thursday, April 7th. Finally, StockNews.com upgraded Lithia Motors from a “hold” rating to a “buy” rating in a research note on Saturday, June 18th. One equities research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Lithia Motors has a consensus rating of “Moderate Buy” and a consensus price target of $425.83.
Lithia Motors Profile (Get Rating)
Lithia Motors, Inc operates as an automotive retailer in the United States. The company operates through three segments: Domestic, Import, and Luxury. It offers new and used vehicles; vehicle financing services; warranties, insurance contracts, and vehicle and theft protection services; and automotive repair and maintenance services, as well as sells vehicle body and parts under the Driveway and GreenCars brand names.
- Get a free copy of the StockNews.com research report on Lithia Motors (LAD)
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