Lithia Motors, Inc. (NYSE:LAD) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Lithia Motors, Inc. (NYSE:LAD) by 9.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 4,982 shares of the company’s stock after selling 499 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lithia Motors were worth $1,640,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Oak Thistle LLC purchased a new stake in Lithia Motors during the third quarter worth about $325,000. Timber Creek Capital Management LLC grew its holdings in shares of Lithia Motors by 3.9% in the 3rd quarter. Timber Creek Capital Management LLC now owns 6,007 shares of the company’s stock worth $1,774,000 after acquiring an additional 225 shares during the period. Campbell Newman Asset Management Inc. increased its stake in Lithia Motors by 67.2% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 5,417 shares of the company’s stock valued at $1,600,000 after purchasing an additional 2,178 shares in the last quarter. Xponance Inc. raised its holdings in Lithia Motors by 3.4% during the third quarter. Xponance Inc. now owns 3,454 shares of the company’s stock worth $1,020,000 after purchasing an additional 114 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Lithia Motors by 3.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 5,746 shares of the company’s stock worth $1,697,000 after purchasing an additional 184 shares in the last quarter.

Lithia Motors Stock Down 6.2 %

Shares of NYSE:LAD opened at $248.19 on Thursday. Lithia Motors, Inc. has a 52-week low of $206.69 and a 52-week high of $331.96. The company has a market capitalization of $6.83 billion, a price-to-earnings ratio of 6.84, a price-to-earnings-growth ratio of 2.21 and a beta of 1.58. The company has a quick ratio of 0.45, a current ratio of 1.41 and a debt-to-equity ratio of 1.15. The company has a 50 day moving average of $285.26 and a two-hundred day moving average of $284.10.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, February 14th. The company reported $8.24 earnings per share for the quarter, beating the consensus estimate of $8.11 by $0.13. The company had revenue of $7.67 billion during the quarter, compared to the consensus estimate of $7.95 billion. Lithia Motors had a return on equity of 17.33% and a net margin of 3.22%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $9.05 earnings per share. As a group, analysts forecast that Lithia Motors, Inc. will post 34.78 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Saturday, March 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, March 7th. Lithia Motors’s payout ratio is currently 5.51%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Evercore ISI began coverage on Lithia Motors in a research report on Wednesday, January 17th. They issued an “outperform” rating and a $400.00 price target for the company. Stephens restated an “overweight” rating and set a $375.00 target price on shares of Lithia Motors in a research report on Wednesday, February 14th. Bank of America raised their price objective on shares of Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their target price on Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company upped their price objective on shares of Lithia Motors from $298.00 to $315.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Lithia Motors presently has an average rating of “Hold” and a consensus target price of $334.60.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 135 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $297.84, for a total value of $40,208.40. Following the sale, the director now directly owns 1,662 shares of the company’s stock, valued at $495,010.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.79% of the stock is owned by corporate insiders.

Lithia Motors 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.