KBC Group NV Sells 462 Shares of Lithia Motors, Inc. $LAD

KBC Group NV lessened its position in shares of Lithia Motors, Inc. (NYSE:LAD) by 39.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 716 shares of the company’s stock after selling 462 shares during the quarter. KBC Group NV’s holdings in Lithia Motors were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Coppell Advisory Solutions LLC raised its stake in Lithia Motors by 10,136,710.0% during the first quarter. Coppell Advisory Solutions LLC now owns 2,027,362 shares of the company’s stock worth $595,112,000 after buying an additional 2,027,342 shares during the last quarter. Park West Asset Management LLC bought a new position in shares of Lithia Motors in the 1st quarter worth about $58,825,000. Millennium Management LLC lifted its stake in shares of Lithia Motors by 1,840.6% in the 1st quarter. Millennium Management LLC now owns 181,777 shares of the company’s stock valued at $53,359,000 after purchasing an additional 172,410 shares during the period. Nuveen LLC acquired a new position in shares of Lithia Motors in the 1st quarter valued at about $32,824,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lithia Motors by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,267,519 shares of the company’s stock valued at $372,053,000 after purchasing an additional 72,980 shares in the last quarter.

Lithia Motors Trading Up 3.0%

Shares of Lithia Motors stock opened at $293.84 on Wednesday. The company has a market capitalization of $7.13 billion, a P/E ratio of 8.51, a price-to-earnings-growth ratio of 0.67 and a beta of 1.29. The stock has a fifty day simple moving average of $314.22 and a 200 day simple moving average of $318.58. Lithia Motors, Inc. has a 12-month low of $262.10 and a 12-month high of $405.67. The company has a current ratio of 1.21, a quick ratio of 0.30 and a debt-to-equity ratio of 1.35.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $9.50 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.97. Lithia Motors had a return on equity of 13.42% and a net margin of 2.39%.The business had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same period last year, the business earned $8.21 EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors declared that its board has approved a stock buyback program on Tuesday, August 26th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Friday, November 7th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 7th. Lithia Motors’s dividend payout ratio is presently 6.37%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LAD. Weiss Ratings lowered Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Jefferies Financial Group began coverage on shares of Lithia Motors in a research report on Thursday, September 4th. They set a “buy” rating and a $400.00 target price on the stock. Guggenheim cut their target price on shares of Lithia Motors from $383.00 to $380.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Barclays assumed coverage on shares of Lithia Motors in a research note on Wednesday, November 12th. They issued an “overweight” rating and a $410.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Lithia Motors from $320.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $383.10.

About Lithia Motors

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.