Lithia Motors, Inc. (NYSE:LAD) Shares Bought by Bank of New York Mellon Corp (2024)

Bank of New York Mellon Corp boosted its stake in Lithia Motors, Inc. (NYSE:LAD - Free Report) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 260,470 shares of the company's stock after buying an additional 5,390 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.95% of Lithia Motors worth $65,756,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LAD. Blue Trust Inc. increased its position in shares of Lithia Motors by 83.6% during the 2nd quarter. Blue Trust Inc. now owns 134 shares of the company's stock valued at $34,000 after purchasing an additional 61 shares during the last quarter. GAMMA Investing LLC bought a new position in Lithia Motors in the 4th quarter worth about $49,000. Rise Advisors LLC boosted its stake in Lithia Motors by 80.2% in the 1st quarter. Rise Advisors LLC now owns 191 shares of the company's stock worth $57,000 after purchasing an additional 85 shares during the period. Kapitalo Investimentos Ltda bought a new position in Lithia Motors in the 4th quarter worth about $67,000. Finally, Mather Group LLC. bought a new position in Lithia Motors in the 1st quarter worth about $114,000.

Insider Transactions at Lithia Motors

In other news, Director Sidney B. Deboer sold 11,938 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $290.86, for a total value of $3,472,286.68. Following the completion of the transaction, the director now owns 46,129 shares of the company's stock, valued at $13,417,080.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Shauna Mcintyre sold 306 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $289.65, for a total transaction of $88,632.90. Following the completion of the transaction, the director now directly owns 1,922 shares of the company's stock, valued at $556,707.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sidney B. Deboer sold 11,938 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $290.86, for a total value of $3,472,286.68. Following the sale, the director now owns 46,129 shares in the company, valued at $13,417,080.94. The disclosure for this sale can be found here. Corporate insiders own 1.79% of the company's stock.

Lithia Motors Stock Down 1.0 %

Shares of LAD stock traded down $3.15 during mid-day trading on Friday, hitting $301.08. The company's stock had a trading volume of 255,509 shares, compared to its average volume of 247,889. Lithia Motors, Inc. has a 52-week low of $231.36 and a 52-week high of $331.96. The business has a 50-day moving average price of $270.44 and a 200 day moving average price of $272.24. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.28 and a current ratio of 1.19. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 3.59 and a beta of 1.63.

Lithia Motors (NYSE:LAD - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $7.87 EPS for the quarter, beating analysts' consensus estimates of $7.09 by $0.78. The company had revenue of $9.23 billion during the quarter, compared to analysts' expectations of $9.29 billion. Lithia Motors had a return on equity of 13.81% and a net margin of 2.52%. Lithia Motors's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.91 earnings per share. Research analysts predict that Lithia Motors, Inc. will post 27.62 EPS for the current fiscal year.

Lithia Motors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, August 9th. Lithia Motors's dividend payout ratio is presently 6.26%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com downgraded Lithia Motors from a "hold" rating to a "sell" rating in a research note on Tuesday, August 13th. Wells Fargo & Company raised their price target on Lithia Motors from $266.00 to $302.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price objective on Lithia Motors from $300.00 to $335.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Bank of America raised their price objective on Lithia Motors from $320.00 to $330.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Lithia Motors from $280.00 to $315.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $321.50.

Get Our Latest Stock Analysis on LAD

Lithia Motors Company Profile

(Free Report)

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.

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