Barclays PLC Has $1.43 Million Stake in Sonic Automotive, Inc. (NYSE:SAH)

Barclays PLC raised its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 346.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,413 shares of the company's stock after buying an additional 18,940 shares during the period. Barclays PLC owned about 0.07% of Sonic Automotive worth $1,427,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC raised its stake in shares of Sonic Automotive by 3.8% during the second quarter. Millennium Management LLC now owns 456,588 shares of the company's stock valued at $24,870,000 after purchasing an additional 16,556 shares during the period. Victory Capital Management Inc. raised its stake in shares of Sonic Automotive by 524.4% during the second quarter. Victory Capital Management Inc. now owns 100,602 shares of the company's stock valued at $5,480,000 after purchasing an additional 84,489 shares during the period. Squarepoint Ops LLC increased its stake in shares of Sonic Automotive by 679.8% in the second quarter. Squarepoint Ops LLC now owns 95,006 shares of the company's stock worth $5,175,000 after buying an additional 82,823 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Sonic Automotive by 26.8% in the second quarter. Renaissance Technologies LLC now owns 88,826 shares of the company's stock worth $4,838,000 after buying an additional 18,800 shares during the last quarter. Finally, Phocas Financial Corp. bought a new stake in shares of Sonic Automotive in the third quarter worth $3,645,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Performance

Shares of SAH traded up $0.81 during midday trading on Monday, hitting $64.19. 160,479 shares of the stock traded hands, compared to its average volume of 161,568. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $70.88. The firm has a market capitalization of $2.19 billion, a PE ratio of 11.42 and a beta of 1.67. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.35 and a current ratio of 1.11. The business's 50 day moving average price is $65.25 and its two-hundred day moving average price is $60.09.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.02 EPS. Equities research analysts predict that Sonic Automotive, Inc. will post 5.6 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.18%. This is an increase from Sonic Automotive's previous quarterly dividend of $0.30. The ex-dividend date is Friday, December 13th. Sonic Automotive's dividend payout ratio is presently 24.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SAH. Bank of America dropped their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a research note on Monday, October 14th. Needham & Company LLC boosted their target price on shares of Sonic Automotive from $73.00 to $74.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Morgan Stanley upgraded shares of Sonic Automotive from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Finally, Seaport Res Ptn upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.40.

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.