Bank of New York Mellon Corp decreased its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 223,757 shares of the company's stock after selling 15,594 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Sonic Automotive worth $14,175,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in SAH. Point72 Asia Singapore Pte. Ltd. increased its stake in Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock valued at $70,000 after acquiring an additional 599 shares during the period. R Squared Ltd acquired a new stake in shares of Sonic Automotive during the 4th quarter worth approximately $72,000. SG Americas Securities LLC bought a new stake in shares of Sonic Automotive during the fourth quarter valued at approximately $244,000. MQS Management LLC acquired a new position in shares of Sonic Automotive in the third quarter valued at $394,000. Finally, Franklin Resources Inc. raised its stake in shares of Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after purchasing an additional 609 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company's stock.
Sonic Automotive Price Performance
Shares of Sonic Automotive stock opened at $64.23 on Thursday. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $76.78. The firm's 50-day moving average price is $69.36 and its two-hundred day moving average price is $63.96. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 10.39 and a beta of 1.70.
Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, equities analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.
Sonic Automotive Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive's dividend payout ratio is currently 22.65%.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on SAH. JPMorgan Chase & Co. boosted their price target on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Stephens upped their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Needham & Company LLC lifted their price objective on Sonic Automotive from $74.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Finally, Seaport Res Ptn raised Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sonic Automotive presently has an average rating of "Buy" and an average price target of $79.20.
Read Our Latest Analysis on Sonic Automotive
Sonic Automotive Profile
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sonic Automotive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonic Automotive wasn't on the list.
While Sonic Automotive currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
