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

State of Alaska Department of Revenue grew its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,120 shares of the company’s stock after buying an additional 80 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lithia Motors were worth $915,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Lithia Motors during the fourth quarter valued at approximately $152,752,000. Egerton Capital UK LLP purchased a new stake in Lithia Motors during the 4th quarter valued at about $113,250,000. Steadfast Capital Management LP boosted its holdings in shares of Lithia Motors by 137.8% during the 4th quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock valued at $164,524,000 after acquiring an additional 266,715 shares during the last quarter. Madison Investment Advisors LLC bought a new position in shares of Lithia Motors in the 4th quarter worth approximately $91,190,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Lithia Motors in the 1st quarter worth approximately $36,762,000.

Analysts Set New Price Targets

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

Lithia Motors Trading Down 0.6%

NYSE:LAD opened at $329.26 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.18 and a debt-to-equity ratio of 1.22. The business’s 50 day moving average is $313.36 and its two-hundred day moving average is $329.23. The company has a market cap 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 52 week low of $243.04 and a 52 week high of $405.68.

Lithia Motors (NYSE:LAD) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing the consensus estimate of $7.77 by ($0.11). Lithia Motors had a return on equity of 12.74% and a net margin of 2.30%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the business earned $6.11 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Increases Dividend

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

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 337 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 1,632 shares in the company, valued at $482,974.08. This represents a 17.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.87% of the stock is currently 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. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.