CIBC Private Wealth Group LLC Sells 6,622 Shares of Lithia Motors, Inc. (NYSE:LAD)

CIBC Private Wealth Group LLC reduced its position in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 13.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,412 shares of the company's stock after selling 6,622 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.17% of Lithia Motors worth $15,502,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LAD. JPMorgan Chase & Co. lifted its stake in shares of Lithia Motors by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company's stock valued at $82,560,000 after buying an additional 37,677 shares in the last quarter. Madison Investment Advisors LLC bought a new position in Lithia Motors in the 4th quarter valued at about $91,190,000. Charles Schwab Investment Management Inc. lifted its position in Lithia Motors by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 208,253 shares of the company's stock valued at $74,436,000 after acquiring an additional 2,108 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in Lithia Motors by 497.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,676 shares of the company's stock valued at $1,314,000 after purchasing an additional 3,061 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Lithia Motors by 1,073.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company's stock worth $990,000 after purchasing an additional 2,534 shares in the last quarter.

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Insider Activity

In related news, Director Congdon Stacy Loretz sold 270 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the sale, the director now directly owns 1,213 shares of the company's stock, valued at $362,444.40. This trade represents a 18.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Shauna Mcintyre sold 248 shares of Lithia Motors stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total transaction of $72,128.32. Following the sale, the director now owns 1,297 shares of the company's stock, valued at approximately $377,219.48. The trade was a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,246 shares of company stock worth $433,724 in the last three months. Corporate insiders own 0.87% of the company's stock.

Lithia Motors Stock Performance

Shares of Lithia Motors stock traded down $1.01 on Friday, reaching $281.31. 583,799 shares of the company traded hands, compared to its average volume of 307,866. The company has a 50 day moving average of $334.52 and a 200 day moving average of $343.34. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.19 and a quick ratio of 0.28. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.68. The firm has a market capitalization of $7.39 billion, a PE ratio of 9.48, a PEG ratio of 4.65 and a beta of 1.61.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. Equities analysts forecast that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, March 7th. Lithia Motors's payout ratio is 7.14%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAD. StockNews.com raised Lithia Motors from a "sell" rating to a "hold" rating in a research report on Tuesday, January 14th. Benchmark reaffirmed a "buy" rating and set a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. Evercore ISI upped their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Wells Fargo & Company raised their price target on shares of Lithia Motors from $346.00 to $397.00 and gave the company an "equal weight" rating in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $365.91.

Lithia Motors Profile

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.