Kennedy Capital Management LLC Reduces Stock Position in Lithia Motors, Inc. $LAD

Kennedy Capital Management LLC trimmed its position in Lithia Motors, Inc. (NYSE:LAD) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,899 shares of the company’s stock after selling 4,096 shares during the period. Kennedy Capital Management LLC’s holdings in Lithia Motors were worth $8,074,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Coppell Advisory Solutions LLC grew its holdings in shares of 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 in the last quarter. Norges Bank acquired a new stake in Lithia Motors during the second quarter worth approximately $148,540,000. Park West Asset Management LLC purchased a new stake in Lithia Motors in the 1st quarter worth approximately $58,825,000. Millennium Management LLC raised its holdings in 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 acquiring an additional 172,410 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Lithia Motors in the 1st quarter valued at $32,824,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LAD shares. Jefferies Financial Group began coverage on Lithia Motors in a report on Thursday, September 4th. They set a “buy” rating and a $400.00 price objective on the stock. Wells Fargo & Company raised their price target on Lithia Motors from $317.00 to $327.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 15th. Weiss Ratings cut Lithia Motors from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Barclays initiated coverage on shares of Lithia Motors in a report on Wednesday, November 12th. They set an “overweight” rating and a $410.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of Lithia Motors from $385.00 to $399.00 and gave the company a “buy” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Lithia Motors currently has a consensus rating of “Moderate Buy” and an average target price of $389.10.

Lithia Motors Stock Down 0.3%

Shares of NYSE:LAD opened at $324.80 on Friday. The stock has a 50-day simple moving average of $309.22 and a 200-day simple moving average of $318.57. The stock has a market capitalization of $7.88 billion, a P/E ratio of 9.40, a PEG ratio of 0.66 and a beta of 1.18. Lithia Motors, Inc. has a 1 year low of $262.10 and a 1 year high of $405.14. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.30 and a current ratio of 1.21.

Lithia Motors (NYSE:LAD) last announced its quarterly earnings results on Wednesday, October 22nd. The company reported $9.50 earnings per share for the quarter, beating analysts’ consensus estimates of $8.53 by $0.97. Lithia Motors had a net margin of 2.39% and a return on equity of 13.42%. The firm had revenue of $9.68 billion for the quarter, compared to analysts’ expectations of $9.38 billion. During the same period in the previous year, the company posted $8.21 earnings per share. Lithia Motors’s revenue was up 4.9% compared to the same quarter last year. Equities analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 0.7%. The ex-dividend date was Friday, November 7th. Lithia Motors’s dividend payout ratio is currently 6.37%.

Lithia Motors declared that its Board of Directors has approved a share buyback program on Tuesday, August 26th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.