Victory Capital Management Inc. Lowers Stock Holdings in Lithia Motors, Inc. (NYSE:LAD)

Victory Capital Management Inc. lowered its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 12.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,756 shares of the company’s stock after selling 649 shares during the quarter. Victory Capital Management Inc.’s holdings in Lithia Motors were worth $1,396,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Lithia Motors by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,194,539 shares of the company’s stock worth $426,968,000 after purchasing an additional 27,035 shares in the last quarter. Lyrical Asset Management LP boosted its position in Lithia Motors by 2.3% during the fourth quarter. Lyrical Asset Management LP now owns 510,388 shares of the company’s stock worth $182,428,000 after purchasing an additional 11,674 shares in the last quarter. Steadfast Capital Management LP boosted its position in Lithia Motors by 137.8% during the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company’s stock worth $164,524,000 after purchasing an additional 266,715 shares in the last quarter. Northern Trust Corp boosted its position in Lithia Motors by 30.1% during the fourth quarter. Northern Trust Corp now owns 256,979 shares of the company’s stock worth $91,852,000 after purchasing an additional 59,525 shares in the last quarter. Finally, Bridges Investment Management Inc. boosted its position in Lithia Motors by 5.0% during the first quarter. Bridges Investment Management Inc. now owns 241,420 shares of the company’s stock worth $70,866,000 after purchasing an additional 11,500 shares in the last quarter.

Lithia Motors Price Performance

NYSE:LAD opened at $286.54 on Thursday. Lithia Motors, Inc. has a one year low of $255.32 and a one year high of $405.67. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.31 and a current ratio of 1.22. The stock has a market cap of $7.46 billion, a PE ratio of 8.50, a P/E/G ratio of 0.45 and a beta of 1.46. The stock has a 50 day moving average price of $326.67 and a 200 day moving average price of $324.30.

Lithia Motors (NYSE:LAD) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $10.24 EPS for the quarter, beating the consensus estimate of $9.78 by $0.46. Lithia Motors had a return on equity of 13.21% and a net margin of 2.39%. The firm had revenue of $9.58 billion during the quarter, compared to analysts’ expectations of $9.56 billion. Equities research analysts expect that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, August 8th. This represents a $2.20 annualized dividend and a dividend yield of 0.77%. Lithia Motors’s dividend payout ratio is presently 6.93%.

Analysts Set New Price Targets

A number of brokerages have commented on LAD. Bank of America increased their target price on Lithia Motors from $430.00 to $500.00 and gave the company a “buy” rating in a report on Monday, June 16th. Citigroup raised Lithia Motors from a “neutral” rating to a “buy” rating and reduced their target price for the company from $415.00 to $375.00 in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their target price on Lithia Motors from $364.00 to $317.00 and set an “equal weight” rating for the company in a report on Wednesday. The Goldman Sachs Group began coverage on Lithia Motors in a report on Tuesday, June 3rd. They set a “neutral” rating and a $340.00 target price for the company. Finally, Guggenheim reduced their target price on Lithia Motors from $417.00 to $356.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Lithia Motors currently has a consensus rating of “Moderate Buy” and an average target price of $377.80.

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.