Westwood Holdings Group Inc. Lowers Stake in Sonic Automotive, Inc. (NYSE:SAH)

Westwood Holdings Group Inc. lessened its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 508,193 shares of the company’s stock after selling 70,366 shares during the period. Westwood Holdings Group Inc. owned approximately 1.49% of Sonic Automotive worth $32,194,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAH. Denali Advisors LLC lifted its holdings in shares of Sonic Automotive by 111.2% during the 4th quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock valued at $5,518,000 after purchasing an additional 45,857 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings in shares of Sonic Automotive by 105.2% during the 4th quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company’s stock valued at $3,708,000 after purchasing an additional 30,002 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Sonic Automotive by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock valued at $5,129,000 after acquiring an additional 27,726 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Sonic Automotive in the 4th quarter valued at $1,341,000. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Sonic Automotive in the 4th quarter valued at $1,311,000. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Sonic Automotive Price Performance

Shares of SAH opened at $69.04 on Tuesday. The business’s 50-day moving average is $61.05 and its two-hundred day moving average is $65.25. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. The company has a market capitalization of $2.34 billion, a P/E ratio of 11.17 and a beta of 1.04.

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

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, June 13th. Sonic Automotive’s payout ratio is currently 19.94%.

Wall Street Analysts Forecast Growth

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

Sonic Automotive Company Profile

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.