JPMorgan Chase & Co. Reduces Position in Lithia Motors, Inc. (NYSE:LAD)

JPMorgan Chase & Co. lessened its holdings in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,349 shares of the company's stock after selling 36,567 shares during the period. JPMorgan Chase & Co. owned approximately 0.84% of Lithia Motors worth $79,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Madison Investment Advisors LLC acquired a new stake in Lithia Motors during the 4th quarter worth about $91,190,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Lithia Motors by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 208,253 shares of the company's stock worth $74,436,000 after buying an additional 2,108 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Lithia Motors by 497.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,676 shares of the company's stock worth $1,314,000 after acquiring an additional 3,061 shares during the period. Nisa Investment Advisors LLC raised its position in Lithia Motors by 1,073.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,770 shares of the company's stock valued at $990,000 after acquiring an additional 2,534 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Lithia Motors by 2.4% in the third quarter. Franklin Resources Inc. now owns 95,899 shares of the company's stock valued at $29,585,000 after acquiring an additional 2,261 shares during the period.

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Lithia Motors Price Performance

Shares of NYSE:LAD traded down $8.88 during midday trading on Tuesday, hitting $270.81. The company's stock had a trading volume of 399,167 shares, compared to its average volume of 309,214. The company has a market cap of $7.12 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61. Lithia Motors, Inc. has a 12-month low of $243.00 and a 12-month high of $405.68. The business's 50 day simple moving average is $329.01 and its 200 day simple moving average is $342.84. 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 (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, beating analysts' consensus estimates of $7.33 by $0.46. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. On average, analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current year.

Lithia Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given 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 dividend yield of 0.78%. Lithia Motors's payout ratio is 7.14%.

Wall Street Analyst Weigh In

LAD has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. StockNews.com raised shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. JPMorgan Chase & Co. lowered their target price on shares of Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Benchmark restated a "buy" rating and issued a $400.00 price target on shares of Lithia Motors in a research note on Thursday, February 20th. Finally, Wells Fargo & Company increased their price target on Lithia Motors from $346.00 to $397.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $365.91.

Insider Activity at Lithia Motors

In other news, Director Shauna Mcintyre sold 248 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $290.84, for a total value of $72,128.32. Following the completion of the sale, the director now owns 1,297 shares of the company's stock, valued at $377,219.48. This represents a 16.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gary M. Glandon sold 325 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $387.86, for a total transaction of $126,054.50. Following the sale, the insider now owns 1,665 shares of the company's stock, valued at $645,786.90. This represents a 16.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,246 shares of company stock valued at $433,724. 0.87% of the stock is owned by company insiders.

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.