State of Alaska Department of Revenue Has $915,000 Stock Position in Lithia Motors, Inc. (NYSE:LAD)

State of Alaska Department of Revenue lifted its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 2.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,120 shares of the company’s stock after purchasing an additional 80 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lithia Motors were worth $915,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its holdings in Lithia Motors by 17.7% in the fourth quarter. Truist Financial Corp now owns 1,456 shares of the company’s stock valued at $520,000 after buying an additional 219 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Lithia Motors by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 237,714 shares of the company’s stock valued at $84,966,000 after buying an additional 3,558 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Lithia Motors by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 2,578 shares of the company’s stock worth $921,000 after purchasing an additional 65 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Lithia Motors in the 4th quarter worth $13,294,000. Finally, SVB Wealth LLC bought a new position in shares of Lithia Motors during the 4th quarter valued at $249,000.

Lithia Motors Stock Performance

NYSE:LAD opened at $329.26 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.31 and a current ratio of 1.18. The company has a fifty day moving average of $313.36 and a two-hundred day moving average of $329.23. The stock has a market capitalization of $8.57 billion, a PE ratio of 10.38, a P/E/G ratio of 0.53 and a beta of 1.47. Lithia Motors, Inc. has a fifty-two week low of $243.04 and a fifty-two week high of $405.68.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.77 by ($0.11). Lithia Motors had a net margin of 2.30% and a return on equity of 12.74%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same period in the prior year, the company posted $6.11 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Lithia Motors’s previous quarterly dividend of $0.53. Lithia Motors’s dividend payout ratio is currently 6.93%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America raised their price target on shares of Lithia Motors from $430.00 to $500.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Citigroup raised shares of Lithia Motors from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $415.00 to $375.00 in a report on Wednesday, April 23rd. The Goldman Sachs Group initiated coverage on shares of Lithia Motors in a report on Tuesday, June 3rd. They set a “neutral” rating and a $340.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Lithia Motors from $420.00 to $360.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Finally, Wells Fargo & Company dropped their target price on shares of Lithia Motors from $397.00 to $308.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.40.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 337 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $295.94, for a total value of $99,731.78. Following the transaction, the director now directly owns 1,632 shares in the company, valued at $482,974.08. This represents a 17.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.87% of the company’s stock.

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.