American Century Companies Inc. Has $15.59 Million Stock Holdings in Lithia Motors, Inc. $LAD

American Century Companies Inc. boosted its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 84.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,338 shares of the company’s stock after purchasing an additional 22,637 shares during the quarter. American Century Companies Inc. owned 0.20% of Lithia Motors worth $15,591,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of LAD. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Lithia Motors in the third quarter worth about $1,601,000. Bridges Investment Management Inc. lifted its holdings in shares of Lithia Motors by 3.0% during the 3rd quarter. Bridges Investment Management Inc. now owns 263,157 shares of the company’s stock valued at $83,158,000 after purchasing an additional 7,558 shares in the last quarter. Arkadios Wealth Advisors bought a new position in shares of Lithia Motors during the 3rd quarter valued at about $557,000. Hennessy Advisors Inc. acquired a new position in shares of Lithia Motors in the 3rd quarter valued at approximately $39,342,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Lithia Motors in the 3rd quarter valued at approximately $548,000.

Lithia Motors Price Performance

NYSE:LAD opened at $262.19 on Wednesday. Lithia Motors, Inc. has a 12-month low of $251.00 and a 12-month high of $360.55. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 0.61 and a beta of 1.20. The stock’s 50 day moving average price is $312.65 and its two-hundred day moving average price is $318.90. The company has a quick ratio of 0.26, a current ratio of 1.17 and a debt-to-equity ratio of 1.46.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, February 11th. The company reported $6.74 EPS for the quarter, missing the consensus estimate of $8.09 by ($1.35). The business had revenue of $9.20 billion for the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a return on equity of 12.76% and a net margin of 2.18%.The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $7.79 earnings per share. On average, analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, March 6th. Lithia Motors’s dividend payout ratio (DPR) is presently 6.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LAD. Wells Fargo & Company reduced their price target on shares of Lithia Motors from $358.00 to $355.00 and set an “equal weight” rating for the company in a report on Thursday, February 12th. Evercore raised their price objective on shares of Lithia Motors from $440.00 to $500.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. JPMorgan Chase & Co. lowered shares of Lithia Motors from an “overweight” rating to a “neutral” rating and set a $335.00 target price for the company. in a research note on Friday, February 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lithia Motors in a report on Thursday, January 22nd. Finally, Wall Street Zen downgraded Lithia Motors from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $382.33.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 75 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $360.00, for a total value of $27,000.00. Following the transaction, the director directly owned 1,810 shares of the company’s stock, valued at $651,600. This represents a 3.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.87% of the stock is owned by company insiders.

Lithia Motors Profile

Lithia Motors, Inc is an American automotive retailer headquartered in Medford, Oregon. Founded in 1946 as a small auto body and glass shop, the company has grown through organic expansion and strategic acquisitions to become one of the largest automotive retail networks in North America. Lithia operates dealerships across the United States and Canada, offering a broad portfolio of new and pre-owned vehicles from more than 40 different manufacturers.

The company’s core business activities include vehicle sales, financing, insurance, parts and service.