State of Michigan Retirement System Sells 100 Shares of Lithia Motors, Inc. (NYSE:LAD)

State of Michigan Retirement System cut its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,287 shares of the company’s stock after selling 100 shares during the quarter. State of Michigan Retirement System’s holdings in Lithia Motors were worth $2,247,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wedge Capital Management L L P NC bought a new stake in shares of Lithia Motors in the 4th quarter worth approximately $46,505,000. Verition Fund Management LLC raised its stake in shares of Lithia Motors by 1,960.2% in the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company’s stock valued at $40,311,000 after purchasing an additional 120,749 shares in the last quarter. HITE Hedge Asset Management LLC boosted its stake in Lithia Motors by 5,233.4% during the third quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company’s stock worth $34,187,000 after buying an additional 105,611 shares in the last quarter. FMR LLC increased its holdings in Lithia Motors by 12.8% in the 3rd quarter. FMR LLC now owns 753,067 shares of the company’s stock valued at $239,204,000 after buying an additional 85,579 shares during the period. Finally, Natixis Advisors LLC acquired a new position in shares of Lithia Motors in the 3rd quarter valued at $26,071,000.

Analyst Ratings Changes

LAD has been the topic of a number of analyst reports. StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Benchmark reiterated a “buy” rating and issued a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their target price on Lithia Motors from $400.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Evercore ISI boosted their price target on Lithia Motors from $400.00 to $440.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company increased their price objective on Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 13th. 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 an average rating of “Moderate Buy” and a consensus price target of $371.36.

Insider Buying and Selling at Lithia Motors

In other Lithia Motors news, COO Adam Chamberlain sold 403 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $384.28, for a total transaction of $154,864.84. Following the completion of the sale, the chief operating officer now directly owns 2,605 shares of the company’s stock, valued at approximately $1,001,049.40. The trade was a 13.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gary M. Glandon sold 325 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the transaction, the insider now directly owns 1,665 shares in the company, valued at $645,786.90. This trade represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company’s stock.

Lithia Motors Stock Performance

Shares of NYSE:LAD opened at $305.09 on Friday. The business has a fifty day moving average of $355.30 and a 200-day moving average of $341.54. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. Lithia Motors, Inc. has a twelve month low of $243.00 and a twelve month high of $405.67. The firm has a market cap of $8.02 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 4.65 and a beta of 1.69.

Lithia Motors (NYSE:LAD) last posted 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 net margin of 2.21% and a return on equity of 12.43%. On average, equities research analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, March 7th. Lithia Motors’s dividend payout ratio is 7.14%.

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.