California Public Employees Retirement System Cuts Stock Position in Lithia Motors, Inc. (NYSE:LAD)

California Public Employees Retirement System decreased its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 13.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 35,161 shares of the company’s stock after selling 5,277 shares during the period. California Public Employees Retirement System’s holdings in Lithia Motors were worth $12,568,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. raised its position in shares of Lithia Motors by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock valued at $82,560,000 after buying an additional 37,677 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in Lithia Motors during the fourth quarter valued at approximately $91,190,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Lithia Motors by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 208,253 shares of the company’s stock valued at $74,436,000 after purchasing an additional 2,108 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Lithia Motors by 497.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,676 shares of the company’s stock worth $1,314,000 after purchasing an additional 3,061 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Lithia Motors by 1,073.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company’s stock valued at $990,000 after purchasing an additional 2,534 shares during the last quarter.

Lithia Motors Trading Down 0.4 %

Shares of NYSE LAD opened at $281.31 on Friday. Lithia Motors, Inc. has a twelve month low of $243.00 and a twelve month high of $405.68. The firm has a market cap of $7.39 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61. The business has a fifty day simple moving average of $334.52 and a two-hundred day simple moving average of $343.34. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. Analysts expect that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.53 per share. The ex-dividend date was Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.75%. Lithia Motors’s dividend payout ratio is presently 7.14%.

Insider Activity at Lithia Motors

In other news, COO Adam Chamberlain sold 403 shares of Lithia Motors stock in a transaction on Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the transaction, the chief operating officer now directly owns 2,605 shares in the company, valued at approximately $1,001,049.40. This trade represents a 13.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary M. Glandon sold 325 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the sale, the insider now owns 1,665 shares of the company’s stock, valued at $645,786.90. This trade represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,246 shares of company stock valued at $433,724 over the last ninety days. 0.87% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LAD has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price target on Lithia Motors from $420.00 to $360.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Evercore ISI lifted their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company boosted their target price on Lithia Motors from $346.00 to $397.00 and gave the company an “equal weight” rating in a research report on Thursday, February 13th. Finally, Benchmark reiterated a “buy” rating and issued a $400.00 price target on shares of Lithia Motors in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $365.91.

About Lithia Motors

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.