Franklin Resources Inc. Sells 3,070 Shares of Lithia Motors, Inc. (NYSE:LAD)

Franklin Resources Inc. trimmed its holdings in shares of Lithia Motors, Inc. (NYSE:LAD) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,829 shares of the company’s stock after selling 3,070 shares during the quarter. Franklin Resources Inc.’s holdings in Lithia Motors were worth $33,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Lithia Motors by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 259,916 shares of the company’s stock worth $82,560,000 after purchasing an additional 37,677 shares during the period. Madison Investment Advisors LLC bought a new position in shares of Lithia Motors during the 4th quarter valued at approximately $91,190,000. Charles Schwab Investment Management Inc. increased its holdings in Lithia Motors by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 208,253 shares of the company’s stock worth $74,436,000 after acquiring an additional 2,108 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Lithia Motors by 497.7% during the 4th 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. Finally, Nisa Investment Advisors LLC lifted its holdings 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 purchasing an additional 2,534 shares in the last quarter.

Lithia Motors Stock Performance

Lithia Motors stock opened at $281.31 on Friday. 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 twelve month low of $243.00 and a twelve month high of $405.68. The company’s 50-day moving average price is $334.52 and its 200-day moving average price is $343.34. The company has a market cap of $7.39 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 4.65 and a beta of 1.61.

Lithia Motors (NYSE:LAD) last announced its earnings results on Wednesday, February 12th. The company reported $7.79 EPS for the quarter, topping analysts’ consensus estimates of $7.33 by $0.46. Lithia Motors had a return on equity of 12.43% and a net margin of 2.21%. On average, equities research analysts forecast that Lithia Motors, Inc. will post 34.45 EPS for the current fiscal year.

Lithia Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, March 7th. Lithia Motors’s dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

LAD has been the topic of several recent analyst reports. StockNews.com upgraded shares of Lithia Motors from a “sell” rating to a “hold” rating in a research report on Tuesday, January 14th. Benchmark restated a “buy” rating and issued a $400.00 price objective on shares of Lithia Motors in a research report on Thursday, February 20th. Evercore ISI increased their target price on Lithia Motors from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their price target on Lithia Motors from $346.00 to $397.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lithia Motors from $420.00 to $360.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Lithia Motors currently has an average rating of “Moderate Buy” and an average price target of $365.91.

Insider Transactions at Lithia Motors

In other Lithia Motors news, Director Congdon Stacy Loretz sold 270 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $298.80, for a total value of $80,676.00. Following the completion of the sale, the director now owns 1,213 shares of the company’s stock, valued at $362,444.40. This trade represents a 18.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Adam Chamberlain sold 403 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $384.28, for a total value of $154,864.84. Following the transaction, the chief operating officer now directly owns 2,605 shares in the company, valued at approximately $1,001,049.40. This represents a 13.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,246 shares of company stock worth $433,724. 0.87% of the stock is currently owned by 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.