Frontier Capital Management Co. LLC Increases Holdings in Lithia Motors, Inc. (NYSE:LAD) (2024)

Frontier Capital Management Co. LLC grew its holdings in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 13.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,602 shares of the company's stock after purchasing an additional 31,670 shares during the period. Lithia Motors comprises approximately 0.9% of Frontier Capital Management Co. LLC's investment portfolio, making the stock its 25th biggest holding. Frontier Capital Management Co. LLC owned approximately 0.95% of Lithia Motors worth $86,470,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LAD. Norges Bank acquired a new stake in Lithia Motors in the 4th quarter valued at $123,976,000. Cadian Capital Management LP acquired a new position in Lithia Motors during the fourth quarter worth $105,370,000. FMR LLC lifted its stake in Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company's stock valued at $145,383,000 after acquiring an additional 45,977 shares during the last quarter. Boston Partners grew its position in shares of Lithia Motors by 67.5% in the 4th quarter. Boston Partners now owns 82,915 shares of the company's stock valued at $26,734,000 after acquiring an additional 33,405 shares during the period. Finally, Kensico Capital Management Corp increased its stake in shares of Lithia Motors by 41.3% during the 3rd quarter. Kensico Capital Management Corp now owns 113,000 shares of the company's stock worth $33,372,000 after purchasing an additional 33,000 shares during the last quarter.

Lithia Motors Stock Performance

Shares of Lithia Motors stock traded down $4.95 during trading hours on Tuesday, reaching $254.91. The company had a trading volume of 289,237 shares, compared to its average volume of 234,828. The business has a fifty day simple moving average of $263.36 and a 200 day simple moving average of $283.85. The firm has a market cap of $6.99 billion, a PE ratio of 7.62, a price-to-earnings-growth ratio of 3.01 and a beta of 1.62. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.17 and a quick ratio of 0.28. Lithia Motors, Inc. has a one year low of $231.36 and a one year high of $331.96.

Lithia Motors (NYSE:LAD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts' consensus estimates of $7.85 by ($1.74). Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $8.58 billion. During the same period in the previous year, the company earned $8.44 EPS. Lithia Motors's quarterly revenue was up 22.7% on a year-over-year basis. On average, analysts anticipate that Lithia Motors, Inc. will post 28.78 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 boost from Lithia Motors's previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 9th. Lithia Motors's dividend payout ratio is presently 6.26%.

Insider Activity

In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total transaction of $35,109.96. Following the transaction, the director now directly owns 2,228 shares of the company's stock, valued at $566,847.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.79% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Lithia Motors from $300.00 to $334.00 and gave the stock a "neutral" rating in a research report on Thursday, February 15th. Wells Fargo & Company cut their price objective on shares of Lithia Motors from $290.00 to $248.00 and set an "equal weight" rating for the company in a report on Thursday, April 25th. Craig Hallum lowered 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. Guggenheim cut Lithia Motors from a "buy" rating to a "neutral" rating in a research note on Friday, May 17th. Finally, StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $319.45.

Check Out Our Latest Analysis on LAD

Lithia Motors Profile

(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.

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