Royal London Asset Management Ltd. Reduces Stake in Lithia Motors, Inc. (NYSE:LAD) (2024)

Royal London Asset Management Ltd. lessened its stake in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 5.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 616,854 shares of the company's stock after selling 34,372 shares during the quarter. Royal London Asset Management Ltd. owned about 2.24% of Lithia Motors worth $203,118,000 at the end of the most recent reporting period.

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Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Lithia Motors during the 3rd quarter worth approximately $32,000. Denali Advisors LLC raised its position in shares of Lithia Motors by 5,050.0% in the fourth quarter. Denali Advisors LLC now owns 103 shares of the company's stock worth $34,000 after buying an additional 101 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Lithia Motors in the fourth quarter worth $49,000. Benjamin F. Edwards & Company Inc. boosted its stake in Lithia Motors by 5,785.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 412 shares of the company's stock valued at $135,000 after buying an additional 405 shares during the period. Finally, KBC Group NV purchased a new position in Lithia Motors during the fourth quarter worth about $147,000.

Lithia Motors Trading Up 6.5 %

Shares of Lithia Motors stock traded up $16.39 during trading on Monday, reaching $269.53. The company's stock had a trading volume of 554,213 shares, compared to its average volume of 229,914. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 2.95 and a beta of 1.59. The firm's 50-day moving average is $267.20 and its two-hundred day moving average is $284.14. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17.

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Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The business had revenue of $8.56 billion during the quarter, compared to analysts' expectations of $8.58 billion. During the same period last year, the company posted $8.44 EPS. Lithia Motors's revenue for the quarter was up 22.7% on a year-over-year basis. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 28.78 earnings per share for the current year.

Lithia Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were issued a dividend of $0.53 per share. This is a positive change from Lithia Motors's previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Thursday, May 9th. Lithia Motors's dividend payout ratio is currently 6.26%.

Insider Activity at Lithia Motors

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In related news, Director Shauna Mcintyre sold 138 shares of the company's stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the sale, the director now directly owns 2,228 shares in the company, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley raised their price target on Lithia Motors from $220.00 to $230.00 and gave the company an "underweight" rating in a report on Thursday, February 29th. Wells Fargo & Company dropped their target price on shares of Lithia Motors from $290.00 to $248.00 and set an "equal weight" rating for the company in a research report on Thursday, April 25th. Guggenheim cut shares of Lithia Motors from a "buy" rating to a "neutral" rating in a research note on Friday, May 17th. Stephens reissued an "overweight" rating and issued a $375.00 price target on shares of Lithia Motors in a research note on Wednesday, February 14th. Finally, StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $318.55.

View Our Latest Stock Report on LAD

About Lithia Motors

(Free Report)

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.

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