Commerce Bank Sells 163 Shares of Lithia Motors, Inc. (NYSE:LAD) (2024)

Posted by Defense World Staff on May 30th, 2024

Commerce Bank reduced its position in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,485 shares of the company’s stock after selling 163 shares during the period. Commerce Bank’s holdings in Lithia Motors were worth $818,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Lithia Motors by 28.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $161,000 after acquiring an additional 109 shares during the period. Franklin Resources Inc. raised its position in Lithia Motors by 34.0% in the fourth quarter. Franklin Resources Inc. now owns 100,664 shares of the company’s stock worth $33,147,000 after acquiring an additional 25,523 shares during the period. Assetmark Inc. raised its position in Lithia Motors by 35.0% in the fourth quarter. Assetmark Inc. now owns 4,620 shares of the company’s stock worth $1,521,000 after acquiring an additional 1,198 shares during the period. CreativeOne Wealth LLC bought a new stake in Lithia Motors in the fourth quarter worth about $318,000. Finally, Wells Fargo & Company MN raised its position in Lithia Motors by 9.4% in the fourth quarter. Wells Fargo & Company MN now owns 30,282 shares of the company’s stock worth $9,971,000 after acquiring an additional 2,601 shares during the period.

Lithia Motors Price Performance

Shares of NYSE:LAD opened at $246.44 on Thursday. The company has a 50 day moving average of $269.72 and a 200 day moving average of $284.31. The stock has a market cap of $6.75 billion, a P/E ratio of 7.28, a P/E/G ratio of 3.00 and a beta of 1.59. Lithia Motors, Inc. has a 12 month low of $229.71 and a 12 month high of $331.96. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17.

Lithia Motors (NYSE:LAD – Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing the consensus estimate of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. Lithia Motors’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm posted $8.44 EPS. As a group, sell-side analysts forecast that Lithia Motors, Inc. will post 28.78 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.12 annualized dividend and a yield of 0.86%. This is a boost from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is currently 6.26%.

Insider Activity at Lithia Motors

In related news, Director Shauna Mcintyre sold 138 shares of the business’s 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 completion of the transaction, the director now owns 2,228 shares of the company’s stock, valued at $566,847.76. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.79% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LAD has been the topic of several research reports. Morgan Stanley lifted their price objective on shares of Lithia Motors from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Thursday, February 29th. Guggenheim lowered shares of Lithia Motors from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th. Wells Fargo & Company lowered their price target on shares of Lithia Motors from $290.00 to $248.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Bank of America boosted their price target on shares of Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, StockNews.com raised shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Lithia Motors currently has a consensus rating of “Hold” and an average target price of $318.55.

Check Out Our Latest Stock Analysis on Lithia Motors

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.

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