New York State Common Retirement Fund Trims Stock Position in Lithia Motors, Inc. (NYSE:LAD)

New York State Common Retirement Fund lessened its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,644 shares of the company's stock after selling 1,500 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Lithia Motors worth $6,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Wedge Capital Management L L P NC purchased a new position in Lithia Motors in the 4th quarter worth about $46,505,000. Verition Fund Management LLC grew its stake in shares of Lithia Motors by 1,960.2% in the third quarter. Verition Fund Management LLC now owns 126,909 shares of the company's stock worth $40,311,000 after acquiring an additional 120,749 shares during the period. HITE Hedge Asset Management LLC raised its holdings in shares of Lithia Motors by 5,233.4% during the third quarter. HITE Hedge Asset Management LLC now owns 107,629 shares of the company's stock valued at $34,187,000 after purchasing an additional 105,611 shares during the last quarter. FMR LLC lifted its position in Lithia Motors by 12.8% during the third quarter. FMR LLC now owns 753,067 shares of the company's stock valued at $239,204,000 after purchasing an additional 85,579 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in Lithia Motors in the third quarter worth approximately $26,071,000.

Insider Transactions at Lithia Motors

In other news, COO Adam Chamberlain sold 403 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $384.28, for a total value of $154,864.84. Following the completion of the transaction, the chief operating officer now directly owns 2,605 shares in the company, valued at $1,001,049.40. This trade represents a 13.40 % 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, insider Gary M. Glandon sold 325 shares of the company's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $387.86, for a total transaction of $126,054.50. Following the completion of the sale, the insider now directly owns 1,665 shares in the company, valued at $645,786.90. This trade represents a 16.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.79% of the company's stock.

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Lithia Motors Stock Down 0.1 %

Shares of LAD stock traded down $0.41 on Friday, hitting $344.10. The stock had a trading volume of 379,913 shares, compared to its average volume of 381,080. The company has a quick ratio of 0.28, a current ratio of 1.19 and a debt-to-equity ratio of 1.22. Lithia Motors, Inc. has a one year low of $243.00 and a one year high of $405.67. The business has a 50 day moving average price of $360.08 and a 200 day moving average price of $340.54. The company has a market cap of $9.05 billion, a PE ratio of 11.59, a P/E/G ratio of 4.65 and a beta of 1.67.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $7.79 EPS 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%. Research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current fiscal year.

Lithia Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.62%. Lithia Motors's payout ratio is 7.14%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Guggenheim upped their price objective on Lithia Motors from $380.00 to $418.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. StockNews.com raised Lithia Motors from a "sell" rating to a "hold" rating in a research note on Tuesday, January 14th. Wells Fargo & Company lifted their target price on Lithia Motors from $346.00 to $397.00 and gave the stock an "equal weight" rating in a report on Thursday, February 13th. Benchmark restated a "buy" rating and set a $400.00 target price on shares of Lithia Motors in a research report on Thursday, February 20th. Finally, Evercore ISI boosted their price objective on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $371.36.

About Lithia Motors

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.