Dimensional Fund Advisors LP reduced its holdings in Sonic Automotive Inc (NYSE:SAH) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,673,191 shares of the company’s stock after selling 6,876 shares during the period. Dimensional Fund Advisors LP owned approximately 6.26% of Sonic Automotive worth $50,657,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Prudential Financial Inc. increased its position in Sonic Automotive by 13.4% in the 1st quarter. Prudential Financial Inc. now owns 460,382 shares of the company’s stock worth $8,725,000 after buying an additional 54,292 shares during the period. California Public Employees Retirement System increased its position in Sonic Automotive by 3.5% in the 4th quarter. California Public Employees Retirement System now owns 147,009 shares of the company’s stock worth $2,712,000 after buying an additional 4,907 shares during the period. Stone Ridge Asset Management LLC bought a new position in Sonic Automotive in the 4th quarter worth approximately $297,000. Towle & Co. increased its position in Sonic Automotive by 4.1% in the 4th quarter. Towle & Co. now owns 1,168,729 shares of the company’s stock worth $21,563,000 after buying an additional 45,970 shares during the period. Finally, Suntrust Banks Inc. increased its position in Sonic Automotive by 12.2% in the 4th quarter. Suntrust Banks Inc. now owns 145,602 shares of the company’s stock worth $2,686,000 after buying an additional 15,840 shares during the period. 63.62% of the stock is currently owned by institutional investors.
In other news, Chairman O Bruton Smith acquired 15,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The shares were bought at an average price of $21.41 per share, with a total value of $321,150.00. Following the acquisition, the chairman now owns 909,691 shares of the company’s stock, valued at $19,476,484.31. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heath Byrd sold 8,500 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $23.00, for a total value of $195,500.00. Following the sale, the chief financial officer now directly owns 153,535 shares in the company, valued at approximately $3,531,305. The disclosure for this sale can be found here. 32.30% of the stock is currently owned by company insiders.
Several research analysts have commented on SAH shares. ValuEngine raised Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Morgan Stanley lifted their price target on Sonic Automotive from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.25.
Shares of NYSE:SAH opened at $23.05 on Wednesday. Sonic Automotive Inc has a 1-year low of $15.95 and a 1-year high of $23.60. The company has a market cap of $996.34 million, a PE ratio of 12.46, a PEG ratio of 1.89 and a beta of 1.61. The company has a current ratio of 1.04, a quick ratio of 0.22 and a debt-to-equity ratio of 1.31.
Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 26th. The company reported $0.26 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Sonic Automotive had a return on equity of 11.09% and a net margin of 0.92%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the firm earned $0.23 EPS. Sonic Automotive’s revenue for the quarter was up 4.9% compared to the same quarter last year. research analysts expect that Sonic Automotive Inc will post 2.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, June 14th. Sonic Automotive’s payout ratio is presently 12.97%.
About Sonic Automotive
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and Pre-Owned Stores. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products.
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