Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lowered its stake in Sonic Automotive, Inc. (NYSE:SAH) by 41.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,680 shares of the company’s stock after selling 14,562 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Sonic Automotive were worth $1,310,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Pacific Global Investment Management Co. lifted its holdings in Sonic Automotive by 4.1% in the fourth quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company’s stock worth $288,000 after purchasing an additional 179 shares during the period. New York State Teachers Retirement System lifted its holdings in Sonic Automotive by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company’s stock worth $1,643,000 after purchasing an additional 212 shares during the period. American Century Companies Inc. lifted its holdings in Sonic Automotive by 1.9% in the fourth quarter. American Century Companies Inc. now owns 20,596 shares of the company’s stock worth $1,305,000 after purchasing an additional 390 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after acquiring an additional 402 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Sonic Automotive by 2.0% in the 4th quarter. Swiss National Bank now owns 30,500 shares of the company’s stock valued at $1,932,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SAH shares. Stephens upped their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Needham & Company LLC cut their price target on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Citigroup started coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.83.

Sonic Automotive Price Performance

SAH stock opened at $69.50 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a one year low of $51.27 and a one year high of $76.78. The firm has a market capitalization of $2.36 billion, a PE ratio of 11.25 and a beta of 1.04. The firm has a 50-day moving average of $60.78 and a two-hundred day moving average of $64.90.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the firm earned $1.36 earnings per share. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, analysts forecast that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive’s dividend payout ratio is presently 19.94%.

About Sonic Automotive

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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 for its guests.