Intech Investment Management LLC Grows Position in Sonic Automotive, Inc. (NYSE:SAH)

Intech Investment Management LLC grew its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 418.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,692 shares of the company's stock after buying an additional 17,512 shares during the quarter. Intech Investment Management LLC owned 0.06% of Sonic Automotive worth $1,269,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SAH. Point72 DIFC Ltd raised its holdings in 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 buying an additional 187 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Sonic Automotive by 3.4% during the second quarter. Inspire Investing LLC now owns 6,475 shares of the company's stock valued at $353,000 after acquiring an additional 211 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Sonic Automotive by 10.8% during the second quarter. Arizona State Retirement System now owns 4,324 shares of the company's stock worth $236,000 after purchasing an additional 420 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Sonic Automotive by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company's stock worth $730,000 after purchasing an additional 458 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in Sonic Automotive during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 46.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SAH shares. Needham & Company LLC lifted their price objective on Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. JPMorgan Chase & Co. lifted their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, September 10th. Stephens started coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They issued an "equal weight" rating and a $64.00 price objective for the company. Seaport Res Ptn raised shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Morgan Stanley raised shares of Sonic Automotive from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $40.00 to $58.00 in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $67.40.

Sonic Automotive Stock Down 0.3 %

NYSE:SAH opened at $69.42 on Wednesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The firm's 50-day moving average price is $59.00 and its 200-day moving average price is $57.92. The company has a market capitalization of $2.37 billion, a PE ratio of 12.35 and a beta of 1.61. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $70.88.

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 analysts' consensus estimates of $1.43 by ($0.17). Sonic Automotive had a net margin of 1.41% and a return on equity of 21.27%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same period last year, the business earned $2.02 EPS. The firm's quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts predict that Sonic Automotive, Inc. will post 5.6 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.02%. 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 21.35%.

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.