Wells Fargo & Company MN Has $9.97 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD) (2024)

Posted by Defense World Staff on Jun 5th, 2024

Wells Fargo & Company MN Has $9.97 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD) (1)Wells Fargo & Company MN raised its holdings in shares of Lithia Motors, Inc. (NYSE:LADFree Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,282 shares of the company’s stock after buying an additional 2,601 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of Lithia Motors worth $9,971,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FourThought Financial Partners LLC increased its stake in Lithia Motors by 2.4% during the fourth quarter. FourThought Financial Partners LLC now owns 1,609 shares of the company’s stock valued at $530,000 after acquiring an additional 37 shares during the period. Xponance Inc. raised its stake in shares of Lithia Motors by 1.1% in the fourth quarter. Xponance Inc. now owns 3,492 shares of the company’s stock valued at $1,150,000 after purchasing an additional 38 shares in the last quarter. Victory Capital Management Inc. lifted its position in Lithia Motors by 0.3% in the third quarter. Victory Capital Management Inc. now owns 17,113 shares of the company’s stock worth $5,054,000 after purchasing an additional 59 shares during the period. Treasurer of the State of North Carolina boosted its stake in Lithia Motors by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 11,886 shares of the company’s stock worth $3,510,000 after buying an additional 60 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its holdings in Lithia Motors by 2.2% in the 3rd quarter. Kestra Advisory Services LLC now owns 3,109 shares of the company’s stock valued at $918,000 after buying an additional 67 shares during the period.

Lithia Motors Stock Down 1.5 %

Shares of LAD opened at $265.52 on Wednesday. The business’s fifty day moving average price is $267.20 and its two-hundred day moving average price is $284.14. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 7.84, a PEG ratio of 2.95 and a beta of 1.62. Lithia Motors, Inc. has a 52 week low of $231.36 and a 52 week high of $331.96. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.28 and a current ratio of 1.17.

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

Lithia Motors Increases Dividend

The firm also recently declared 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from Lithia Motors’s previous quarterly dividend of $0.50. The ex-dividend date was Thursday, May 9th. Lithia Motors’s payout ratio is 6.26%.

Insider Activity at Lithia Motors

In other Lithia Motors news, Director Shauna Mcintyre sold 138 shares of Lithia Motors 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 sale, the director now owns 2,228 shares of the company’s stock, valued at approximately $566,847.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.79% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Craig Hallum decreased their target price on shares of Lithia Motors from $350.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Bank of America raised their target price on Lithia Motors from $380.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Guggenheim cut Lithia Motors from a “buy” rating to a “neutral” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. cut their price objective on Lithia Motors from $285.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price target on shares of Lithia Motors from $220.00 to $230.00 and gave the company an “underweight” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Lithia Motors currently has an average rating of “Hold” and a consensus price target of $318.55.

Get Our Latest Stock Analysis on Lithia Motors

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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Want to see what other hedge funds are holding LAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lithia Motors, Inc. (NYSE:LADFree Report).

Wells Fargo & Company MN Has $9.97 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD) (2)

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Wells Fargo & Company MN Has $9.97 Million Stock Position in Lithia Motors, Inc. (NYSE:LAD) (2024)

FAQs

Who owns the most Lithia stock? ›

What type of owners hold Lithia Motors Inc stock?
NameHoldType
Vanguard Group Inc10.25%Institution
Abrams Capital Management LP8.72%Institution
Blackrock Inc8.65%Institution
Abrams Capital Management LP8.12%Insider
6 more rows

Why did Lithia Motors stock drop? ›

On the top line, the auto dealership generated sales of $8.56 billion. Here, the company managed to beat the consensus view of $8.51 billion. Still, investors didn't appreciate the gross profit per vehicle dropping 22% to $4,346 last quarter. Subsequently, investors abandoned LAD stock.

Should I buy Lithia Motors stock? ›

Lithia Motors has a consensus rating of Moderate Buy which is based on 4 buy ratings, 2 hold ratings and 1 sell ratings. The average price target for Lithia Motors is $282.75. This is based on 7 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

Who owns Wells Fargo stock? ›

The ownership structure of Wells Fargo (WFC) stock is a mix of institutional, retail and individual investors. Approximately 48.10% of the company's stock is owned by Institutional Investors, 15.10% is owned by Insiders and 36.80% is owned by Public Companies and Individual Investors.

What is the Lithia Motors controversy? ›

General Motors Company, Jim Koons Management and Lithia Motors Inc. have agreed to settle separate Federal Trade Commission administrative complaint allegations that each touted how rigorously they inspect their cars, yet failed to disclose that some of the used cars they were selling were subject to unrepaired safety ...

Who has the largest stock of lithium in the world? ›

The world's largest lithium-producing mine is Talison Lithium and Albemarle's Greenbushes hard-rock mine in Australia, which put out 37,000 metric tons of lithium in concentrate in 2022. Coming in second place is SQM's Salar de Atacama operations in Chile, with 2022 production of 29,500 metric tons of lithium.

What is Lithia Motors ranked in the Fortune 500? ›

As of 2022 Lithia is ranked #158 on the Fortune 500.

What is Lithia Motors known for? ›

Lithia Motors Inc (Lithia) is an automotive retailer. The company provides products and services related to new and used vehicles.

How does Lithia Motors make money? ›

Lithia Motors, Inc. (NYSE:LAD) is a leading automotive retailer in the United States, operating through a network of dealerships offering new and used vehicles, vehicle maintenance, repair services, and automotive financing. The company serves a wide customer base across various states.

Does China own Wells Fargo? ›

Does China own Wells Fargo Bank? Well Fargo is a publicly held U.S. based corporation listed on the New York Stock Exchange. You can check online to see the major shareholders.

What is the highest Wells Fargo stock has ever been? ›

The latest closing stock price for Wells Fargo as of July 30, 2024 is 60.01.
  • The all-time high Wells Fargo stock closing price was 62.34 on May 15, 2024.
  • The Wells Fargo 52-week high stock price is 62.55, which is 4.2% above the current share price.

Who are Lithia shareholders? ›

Shareholders: Lithia Motors, Inc.
NameEquitiesValuation
Abrams Capital Management LP 8.725 %2,391,188604 M $
BlackRock Advisors LLC 8.296 %2,273,650574 M $
Harris Associates LP 7.520 %2,060,973520 M $
MFN Partners Management LP 5.660 %1,551,077392 M $
1 more row

Who owns the most stock in a company? ›

A majority shareholder owns and controls more than 50% of a company's outstanding shares. This type of shareholder is often company founders or their descendants.

Who owns the majority of GM stock? ›

The ownership structure of General Motors (GM) stock is a mix of institutional, retail and individual investors. Approximately 59.61% of the company's stock is owned by Institutional Investors, 6.95% is owned by Insiders and 33.44% is owned by Public Companies and Individual Investors.

Who owns the most stock in General Dynamics? ›

Largest shareholders include Longview Asset Management, Llc, Vanguard Group Inc, Newport Trust Co, BlackRock Inc., Wellington Management Group Llp, State Street Corp, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, Bank Of America Corp /de/, Massachusetts Financial Services Co /ma/, and Wells Fargo & ...

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