Franklin Resources Inc. Cuts Stock Position in Lithia Motors, Inc. (NYSE:LAD)

Franklin Resources Inc. lowered its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,829 shares of the company's stock after selling 3,070 shares during the period. Franklin Resources Inc. owned approximately 0.35% of Lithia Motors worth $33,180,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of LAD. SBI Securities Co. Ltd. purchased a new position in Lithia Motors during the 4th quarter valued at $35,000. UMB Bank n.a. raised its stake in Lithia Motors by 69.9% in the fourth quarter. UMB Bank n.a. now owns 124 shares of the company's stock worth $44,000 after buying an additional 51 shares in the last quarter. V Square Quantitative Management LLC boosted its position in Lithia Motors by 33.9% during the 4th quarter. V Square Quantitative Management LLC now owns 146 shares of the company's stock valued at $52,000 after acquiring an additional 37 shares in the last quarter. Rakuten Securities Inc. grew its stake in Lithia Motors by 1,420.0% in the fourth quarter. Rakuten Securities Inc. now owns 152 shares of the company's stock valued at $54,000 after purchasing an additional 142 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Lithia Motors by 30.5% during the fourth quarter. GAMMA Investing LLC now owns 167 shares of the company's stock valued at $60,000 after buying an additional 39 shares during the last quarter.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 270 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total transaction of $80,676.00. Following the completion of the transaction, the director now 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 filing with the SEC, which is available through the SEC website. Also, Director Shauna Mcintyre sold 248 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $290.84, for a total transaction of $72,128.32. Following the completion of the transaction, the director now owns 1,297 shares in the company, valued at approximately $377,219.48. This represents a 16.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,246 shares of company stock worth $433,724 in the last ninety days. Insiders own 0.87% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LAD shares. Evercore ISI boosted their target price on 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 upped 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 note on Thursday, February 13th. Benchmark reissued a "buy" rating and set a $400.00 price objective on shares of Lithia Motors in a report on Thursday, February 20th. StockNews.com upgraded Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. dropped their price target on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $365.91.

Lithia Motors Stock Performance

NYSE LAD traded down $19.81 during mid-day trading on Thursday, reaching $283.94. 86,914 shares of the stock were exchanged, compared to its average volume of 309,920. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.28 and a current ratio of 1.19. Lithia Motors, Inc. has a 1 year low of $243.00 and a 1 year high of $405.68. The business's 50 day moving average is $326.05 and its 200-day moving average is $342.56. The company has a market capitalization of $7.46 billion, a P/E ratio of 9.58, a P/E/G ratio of 4.65 and a beta of 1.61.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $7.79 earnings per share for the quarter, topping 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%. On average, equities research analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $2.12 annualized dividend and a yield of 0.75%. Lithia Motors's dividend payout ratio is presently 7.14%.

Lithia Motors Company 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.