Wells Fargo & Company MN Has $9.97 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD) (2024)

Wells Fargo & Company MN raised its holdings in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,282 shares of the company’s stock after buying an additional 2,601 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of Lithia Motors worth $9,971,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FourThought Financial Partners LLC increased its stake in Lithia Motors by 2.4% during the fourth quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock valued at $530,000 after acquiring an additional 37 shares during the period. Xponance Inc. raised its stake in shares of Lithia Motors by 1.1% in the fourth quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after purchasing an additional 38 shares in the last quarter. Victory Capital Management Inc. lifted its position in Lithia Motors by 0.3% in the third quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock worth $5,054,000 after purchasing an additional 59 shares during the period. Treasurer of the State of North Carolina boosted its stake in Lithia Motors by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock worth $3,510,000 after buying an additional 60 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in Lithia Motors by 2.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,109 shares of the company’s stock valued at $918,000 after buying an additional 67 shares during the period.

Lithia Motors Stock Down 1.5 %

Shares of LAD opened at $265.52 on Wednesday. The business’s fifty day moving average price is $267.20 and its two-hundred day moving average price is $284.14. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.95 and a beta of 1.62. Lithia Motors, Inc. has a 52 week low of $231.36 and a 52 week high of $331.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17.

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

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, May 9th. Lithia Motors’s payout ratio is 6.26%.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of Lithia Motors 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 owns 2,228 shares of the company’s stock, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Craig Hallum decreased their target price on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Bank of America raised their target price on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Guggenheim cut Lithia Motors from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. cut their price objective on Lithia Motors from $285.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Lithia Motors currently has an average rating of “Hold” and a consensus price target of $318.55.

Get Our Latest Stock Analysis on Lithia Motors

Lithia Motors Company Profile

(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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