Arizona State Retirement System cut its position in Lithia Motors, Inc. (NYSE:LAD) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,390 shares of the company’s stock after selling 100 shares during the period. Arizona State Retirement System’s holdings in Lithia Motors were worth $1,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LAD. Tyers Asset Management LLC raised its stake in shares of Lithia Motors by 21.1% in the first quarter. Tyers Asset Management LLC now owns 1,288 shares of the company’s stock worth $110,000 after buying an additional 224 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Lithia Motors by 21.1% in the first quarter. Flinton Capital Management LLC now owns 1,564 shares of the company’s stock worth $134,000 after buying an additional 272 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Lithia Motors by 10.0% in the first quarter. Public Employees Retirement System of Ohio now owns 1,602 shares of the company’s stock worth $137,000 after buying an additional 146 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Lithia Motors during the first quarter worth approximately $176,000. Finally, State of Alaska Department of Revenue raised its stake in shares of Lithia Motors by 4.3% in the first quarter. State of Alaska Department of Revenue now owns 2,640 shares of the company’s stock worth $226,000 after buying an additional 110 shares during the last quarter. 98.47% of the stock is owned by institutional investors.

Lithia Motors, Inc. (NYSE:LAD) opened at 102.85 on Tuesday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 12.40 and a beta of 1.73. Lithia Motors, Inc. has a 12 month low of $75.85 and a 12 month high of $109.42. The firm’s 50-day moving average price is $100.81 and its 200 day moving average price is $94.23.

Lithia Motors (NYSE:LAD) last issued its quarterly earnings data on Friday, July 28th. The company reported $2.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.05. Lithia Motors had a return on equity of 21.66% and a net margin of 2.26%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 15.6% on a year-over-year basis. On average, analysts anticipate that Lithia Motors, Inc. will post $8.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were paid a $0.27 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.05%. Lithia Motors’s payout ratio is presently 13.01%.

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A number of analysts recently commented on the company. Zacks Investment Research raised Lithia Motors from a “hold” rating to a “strong-buy” rating and set a $121.00 price target for the company in a research note on Wednesday, August 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Lithia Motors in a research note on Thursday, August 3rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $116.00 price target (up previously from $106.00) on shares of Lithia Motors in a research note on Wednesday, August 2nd. Seaport Global Securities assumed coverage on Lithia Motors in a research note on Wednesday, June 14th. They issued a “neutral” rating for the company. Finally, BidaskClub raised Lithia Motors from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $112.00.

In related news, CEO Bryan B. Deboer sold 316 shares of Lithia Motors stock in a transaction on Monday, June 12th. The stock was sold at an average price of $97.19, for a total value of $30,712.04. Following the completion of the transaction, the chief executive officer now directly owns 113,867 shares in the company, valued at $11,066,733.73. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sidney B. Deboer sold 81,444 shares of Lithia Motors stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $99.39, for a total value of $8,094,719.16. Following the completion of the transaction, the director now owns 48,668 shares of the company’s stock, valued at $4,837,112.52. The disclosure for this sale can be found here. Insiders sold 243,135 shares of company stock valued at $24,485,918 over the last ninety days. Insiders own 7.85% of the company’s stock.

About Lithia Motors

Lithia Motors, Inc is an operator of automotive franchises and a retailer of new and used vehicles and related services. As of February 28, 2017, it offered 30 brands of new vehicles and all brands of used vehicles in 154 stores in the United States and online at Lithia.com, DCHauto.com and CarboneCars.com.

Institutional Ownership by Quarter for Lithia Motors (NYSE:LAD)

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