JPMorgan Chase & Co. Has $82.56 Million Position in Lithia Motors, Inc. (NYSE:LAD)

JPMorgan Chase & Co. boosted its position in shares of Lithia Motors, Inc. (NYSE:LAD - Free Report) by 17.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 259,916 shares of the company's stock after purchasing an additional 37,677 shares during the period. JPMorgan Chase & Co. owned 0.98% of Lithia Motors worth $82,560,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LAD. Retirement Systems of Alabama grew its position in shares of Lithia Motors by 46.9% in the third quarter. Retirement Systems of Alabama now owns 75,984 shares of the company's stock valued at $24,136,000 after purchasing an additional 24,258 shares during the last quarter. Franklin Resources Inc. increased its position in Lithia Motors by 2.4% in the 3rd quarter. Franklin Resources Inc. now owns 95,899 shares of the company's stock worth $29,585,000 after buying an additional 2,261 shares during the period. Tidal Investments LLC lifted its holdings in shares of Lithia Motors by 19.8% during the third quarter. Tidal Investments LLC now owns 3,927 shares of the company's stock worth $1,247,000 after buying an additional 648 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Lithia Motors in the third quarter valued at approximately $217,000. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Lithia Motors in the third quarter worth $223,000.

Insider Buying and Selling

In other news, insider Gary M. Glandon sold 242 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $382.86, for a total transaction of $92,652.12. Following the completion of the sale, the insider now owns 1,729 shares of the company's stock, valued at $661,964.94. This represents a 12.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Chris Holzshu sold 8,520 shares of the business's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $335.21, for a total transaction of $2,855,989.20. Following the completion of the sale, the chief operating officer now directly owns 32,054 shares in the company, valued at $10,744,821.34. This represents a 21.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,290 shares of company stock valued at $17,959,596. 1.79% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Lithia Motors from $299.00 to $343.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Stephens boosted their price objective on Lithia Motors from $360.00 to $405.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Citigroup increased their price objective on shares of Lithia Motors from $280.00 to $320.00 and gave the company a "neutral" rating in a research note on Friday, September 27th. JPMorgan Chase & Co. lifted their price objective on Lithia Motors from $375.00 to $405.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Guggenheim lifted their target price on shares of Lithia Motors from $380.00 to $418.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $357.60.

Lithia Motors Trading Down 0.2 %

NYSE LAD traded down $0.78 on Friday, reaching $347.95. The company had a trading volume of 204,746 shares, compared to its average volume of 195,823. Lithia Motors, Inc. has a 52 week low of $243.00 and a 52 week high of $405.67. The stock's 50 day moving average is $368.36 and its 200-day moving average is $312.47. The company has a quick ratio of 0.27, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 6.25 and a beta of 1.65.

Lithia Motors (NYSE:LAD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $8.21 EPS for the quarter, beating analysts' consensus estimates of $7.60 by $0.61. Lithia Motors had a return on equity of 12.95% and a net margin of 2.31%. The company had revenue of $9.22 billion during the quarter, compared to analysts' expectations of $9.46 billion. During the same period in the prior year, the business posted $9.25 EPS. Lithia Motors's revenue was up 11.4% on a year-over-year basis. Equities analysts predict that Lithia Motors, Inc. will post 29.42 earnings per share for the current year.

Lithia Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, November 8th. Lithia Motors's dividend payout ratio is currently 7.24%.

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.