Teachers Advisors LLC increased its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 29.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,309 shares of the company’s stock after buying an additional 18,571 shares during the period. Teachers Advisors LLC owned 0.18% of Sonic Automotive worth $1,885,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Trexquant Investment LP acquired a new position in Sonic Automotive during the fourth quarter worth approximately $244,000. Weiss Asset Management LP acquired a new position in Sonic Automotive during the third quarter worth approximately $244,000. Thrivent Financial for Lutherans boosted its position in Sonic Automotive by 4.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,240 shares of the company’s stock worth $326,000 after buying an additional 570 shares during the last quarter. Comerica Bank increased its stake in shares of Sonic Automotive by 4.2% in the fourth quarter. Comerica Bank now owns 28,081 shares of the company’s stock valued at $654,000 after buying an additional 1,136 shares during the period. Finally, First Heartland Consultants Inc. increased its stake in shares of Sonic Automotive by 25.6% in the third quarter. First Heartland Consultants Inc. now owns 41,200 shares of the company’s stock valued at $775,000 after buying an additional 8,400 shares during the period. Institutional investors own 63.83% of the company’s stock.
Sonic Automotive, Inc. (NYSE:SAH) traded down 7.95% during trading on Friday, reaching $17.95. 438,221 shares of the company traded hands. Sonic Automotive, Inc. has a 12-month low of $16.08 and a 12-month high of $27.45. The firm’s 50 day moving average price is $18.89 and its 200 day moving average price is $21.15. The firm has a market capitalization of $807.59 million, a price-to-earnings ratio of 10.42 and a beta of 1.46.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Wednesday, April 26th. The company reported $0.23 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.23. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Sonic Automotive had a net margin of 0.80% and a return on equity of 12.03%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research analysts expect that Sonic Automotive, Inc. will post $2.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Tuesday, June 13th. Sonic Automotive’s payout ratio is presently 11.63%.
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Several brokerages have issued reports on SAH. Jefferies Group LLC restated a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research report on Friday. Morgan Stanley decreased their target price on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. Bank of America Corporation cut shares of Sonic Automotive from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research note on Thursday, February 23rd. ValuEngine cut shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, TheStreet cut shares of Sonic Automotive from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Sonic Automotive currently has a consensus rating of “Hold” and an average target price of $23.67.
In related news, insider O Bruton Smith purchased 19,273 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average cost of $18.55 per share, for a total transaction of $357,514.15. Following the completion of the acquisition, the insider now owns 676,609 shares in the company, valued at approximately $12,551,096.95. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director R Eugene Taylor purchased 5,000 shares of the business’s stock in a transaction dated Monday, March 20th. The stock was bought at an average price of $20.51 per share, for a total transaction of $102,550.00. Following the completion of the acquisition, the director now owns 12,242 shares of the company’s stock, valued at approximately $251,083.42. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 124,273 shares of company stock worth $2,474,064. Company insiders own 30.29% of the company’s stock.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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