Lithia Motors, Inc. (NYSE:LAD) Shares Purchased by Vanguard Group Inc. (2024)

Posted by Defense World Staff on Jun 22nd, 2024

Vanguard Group Inc. raised its stake in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,823,369 shares of the company’s stock after acquiring an additional 15,962 shares during the quarter. Vanguard Group Inc. owned approximately 10.26% of Lithia Motors worth $929,679,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LAD. Denali Advisors LLC lifted its position in shares of Lithia Motors by 5,050.0% during the fourth quarter. Denali Advisors LLC now owns 103 shares of the company’s stock worth $34,000 after purchasing an additional 101 shares during the last quarter. GAMMA Investing LLC bought a new position in Lithia Motors during the 4th quarter worth approximately $49,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Lithia Motors by 5,785.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 412 shares of the company’s stock worth $135,000 after acquiring an additional 405 shares in the last quarter. KBC Group NV bought a new stake in shares of Lithia Motors in the 4th quarter valued at approximately $147,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of Lithia Motors during the 4th quarter valued at approximately $160,000.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total value of $35,109.96. Following the sale, the director now directly owns 2,228 shares in the company, valued at $566,847.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

LAD has been the subject of several recent research reports. Bank of America boosted their target price on shares of Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Craig Hallum cut their target price on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company lowered their target price on Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. Citigroup cut their price target on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Finally, Morgan Stanley upped their price objective on Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $319.45.

View Our Latest Stock Report on Lithia Motors

Lithia Motors Stock Performance

Shares of LAD opened at $248.64 on Friday. The firm has a market capitalization of $6.82 billion, a PE ratio of 7.34, a P/E/G ratio of 2.94 and a beta of 1.62. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. The firm has a 50-day moving average price of $259.42 and a 200 day moving average price of $282.59. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96.

Lithia Motors (NYSE:LAD – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same quarter last year, the business earned $8.44 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 28.79 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.53 dividend. This is a positive change from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. Lithia Motors’s dividend payout ratio is 6.26%.

About Lithia Motors

(Free Report)

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.