Hsbc Holdings PLC Purchases 13,626 Shares of Lithia Motors, Inc. (NYSE:LAD) (2024)

Hsbc Holdings PLC raised its position in shares of Lithia Motors, Inc. (NYSE:LAD – Free Report) by 989.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,003 shares of the company’s stock after purchasing an additional 13,626 shares during the period. Hsbc Holdings PLC owned 0.05% of Lithia Motors worth $4,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Lithia Motors by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,807,407 shares of the company’s stock worth $829,112,000 after acquiring an additional 10,649 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of Lithia Motors by 0.3% in the third quarter. Canada Pension Plan Investment Board now owns 678,611 shares of the company’s stock worth $200,414,000 after acquiring an additional 2,200 shares during the period. FMR LLC boosted its holdings in shares of Lithia Motors by 10.3% in the third quarter. FMR LLC now owns 492,273 shares of the company’s stock worth $145,383,000 after acquiring an additional 45,977 shares during the period. Norges Bank bought a new position in shares of Lithia Motors in the fourth quarter worth $123,976,000. Finally, Eventide Asset Management LLC boosted its holdings in shares of Lithia Motors by 1.3% in the third quarter. Eventide Asset Management LLC now owns 247,514 shares of the company’s stock worth $73,098,000 after acquiring an additional 3,234 shares during the period.

Analysts Set New Price Targets

LAD has been the subject of a number of analyst reports. Craig Hallum cut their price target on Lithia Motors from $350.00 to $310.00 and set a “buy” rating for the company in a report on Thursday, April 25th. The Goldman Sachs Group increased their price objective on Lithia Motors from $300.00 to $334.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Stephens reiterated an “overweight” rating and issued a $375.00 price objective on shares of Lithia Motors in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lowered their price objective on Lithia Motors from $285.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Bank of America increased their price objective on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $318.55.

View Our Latest Analysis on Lithia Motors

Lithia Motors Trading Down 1.5 %

NYSE LAD opened at $265.52 on Wednesday. The stock’s 50-day simple moving average is $267.20 and its two-hundred day simple moving average is $284.14. Lithia Motors, Inc. has a twelve month low of $231.36 and a twelve month high of $331.96. The company has a quick ratio of 0.28, a current ratio of 1.17 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $7.28 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 3.14 and a beta of 1.62.

Lithia Motors (NYSE:LAD – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $6.11 earnings per share for the quarter, missing analysts’ consensus estimates of $7.85 by ($1.74). Lithia Motors had a net margin of 2.87% and a return on equity of 15.62%. The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $8.58 billion. During the same quarter in the previous year, the business earned $8.44 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. Research analysts forecast that Lithia Motors, Inc. will post 28.78 EPS for the current fiscal year.

Lithia Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.80%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. Lithia Motors’s payout ratio is currently 6.26%.

Insider Transactions at Lithia Motors

In other news, Director Shauna Mcintyre sold 138 shares of Lithia Motors stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $254.42, for a total value of $35,109.96. Following the transaction, the director now owns 2,228 shares in the company, valued at $566,847.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.79% of the company’s stock.

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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