Lithia Motors, Inc. (NYSE:LAD) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC reduced its stake in shares of Lithia Motors, Inc. (NYSE:LAD) by 11.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,047 shares of the company’s stock after selling 138 shares during the period. OneAscent Wealth Management LLC’s holdings in Lithia Motors were worth $315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sendero Wealth Management LLC lifted its holdings in Lithia Motors by 15.7% in the first quarter. Sendero Wealth Management LLC now owns 11,949 shares of the company’s stock valued at $3,595,000 after acquiring an additional 1,617 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Lithia Motors by 4.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,489 shares of the company’s stock valued at $749,000 after acquiring an additional 98 shares during the last quarter. Bridge City Capital LLC lifted its holdings in Lithia Motors by 0.8% in the first quarter. Bridge City Capital LLC now owns 13,695 shares of the company’s stock valued at $4,120,000 after acquiring an additional 108 shares during the last quarter. BTC Capital Management Inc. acquired a new position in Lithia Motors in the first quarter valued at approximately $230,000. Finally, Red Spruce Capital LLC lifted its holdings in Lithia Motors by 6.0% in the first quarter. Red Spruce Capital LLC now owns 8,668 shares of the company’s stock valued at $2,608,000 after acquiring an additional 492 shares during the last quarter.

Lithia Motors Stock Up 0.5 %

Lithia Motors stock opened at $252.45 on Friday. Lithia Motors, Inc. has a twelve month low of $231.36 and a twelve month high of $331.96. The stock’s fifty day simple moving average is $258.42 and its 200-day simple moving average is $282.10. The company has a current ratio of 1.17, a quick ratio of 0.28 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $6.92 billion, a P/E ratio of 7.45, a P/E/G ratio of 2.94 and a beta of 1.62.

Lithia Motors (NYSE:LAD) last issued its earnings results on Wednesday, April 24th. The company reported $6.11 EPS for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $8.58 billion. Lithia Motors had a return on equity of 15.62% and a net margin of 2.87%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.44 EPS. As a group, equities analysts expect that Lithia Motors, Inc. will post 28.79 earnings per share for the current fiscal year.

Lithia Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, May 9th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is presently 6.26%.

Insider Buying and Selling

In related news, Director Shauna Mcintyre sold 138 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $254.42, for a total transaction of $35,109.96. Following the completion of the transaction, the director now owns 2,228 shares in the company, valued at $566,847.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upgraded Lithia Motors from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $270.00 to $280.00 in a report on Monday, June 10th. Guggenheim lowered Lithia Motors from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th. Craig Hallum cut their target price on Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Citigroup cut their target price on Lithia Motors from $320.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, Bank of America boosted their target price on Lithia Motors from $380.00 to $385.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $319.45.

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.