Charles Schwab Investment Management Inc. Has $22.41 Million Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Charles Schwab Investment Management Inc. reduced its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 383,138 shares of the company's stock after selling 8,601 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.12% of Sonic Automotive worth $22,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Sonic Automotive in the 2nd quarter worth approximately $41,000. AM Squared Ltd bought a new position in shares of Sonic Automotive in the second quarter valued at $82,000. Point72 DIFC Ltd lifted its position in shares of Sonic Automotive by 6.9% during the 2nd quarter. Point72 DIFC Ltd now owns 2,900 shares of the company's stock valued at $158,000 after acquiring an additional 187 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Sonic Automotive during the 2nd quarter valued at $228,000. Finally, Arizona State Retirement System boosted its stake in shares of Sonic Automotive by 10.8% during the 2nd quarter. Arizona State Retirement System now owns 4,324 shares of the company's stock worth $236,000 after acquiring an additional 420 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Stock Down 0.2 %

Shares of Sonic Automotive stock traded down $0.11 on Friday, hitting $67.56. 98,618 shares of the company traded hands, compared to its average volume of 193,508. The company has a quick ratio of 0.35, a current ratio of 1.11 and a debt-to-equity ratio of 1.87. Sonic Automotive, Inc. has a 12-month low of $47.82 and a 12-month high of $70.88. The company has a 50-day moving average price of $60.88 and a 200 day moving average price of $58.50. The company has a market cap of $2.31 billion, a PE ratio of 12.02 and a beta of 1.65.

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

Sonic Automotive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from Sonic Automotive's previous quarterly dividend of $0.30. Sonic Automotive's payout ratio is currently 24.91%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Needham & Company LLC increased their price target on Sonic Automotive from $73.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Seaport Res Ptn upgraded shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Stephens began coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They set an "equal weight" rating and a $64.00 price target on the stock. Morgan Stanley raised shares of Sonic Automotive from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $40.00 to $58.00 in a research note on Wednesday, September 25th. Finally, Bank of America cut their target price on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Sonic Automotive 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.