Invesco Ltd. Has $38.03 Million Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

Invesco Ltd. lessened its stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 4.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 600,359 shares of the company's stock after selling 24,758 shares during the period. Invesco Ltd. owned 1.76% of Sonic Automotive worth $38,033,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd increased its stake in shares of Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock valued at $98,000 after acquiring an additional 1,444 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Sonic Automotive by 15.7% in the fourth quarter. Wells Fargo & Company MN now owns 21,870 shares of the company's stock valued at $1,385,000 after buying an additional 2,968 shares during the period. New Age Alpha Advisors LLC bought a new position in Sonic Automotive during the fourth quarter valued at about $1,311,000. JPMorgan Chase & Co. raised its position in Sonic Automotive by 52.1% in the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock worth $5,129,000 after acquiring an additional 27,726 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock valued at $98,658,000 after acquiring an additional 20,058 shares during the last quarter. Institutional investors and hedge funds own 46.92% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on SAH. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Monday. Needham & Company LLC decreased their target price on Sonic Automotive from $100.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. reduced their target price on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, Stephens boosted their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. One research analyst has 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, the company currently has a consensus rating of "Buy" and an average price target of $74.80.

Sonic Automotive Stock Up 1.0 %

NYSE SAH traded up $0.59 during trading on Tuesday, reaching $58.76. 33,874 shares of the company's stock were exchanged, compared to its average volume of 235,023. The firm has a market capitalization of $1.98 billion, a PE ratio of 9.51 and a beta of 1.43. Sonic Automotive, Inc. has a fifty-two week low of $49.77 and a fifty-two week high of $76.78. 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 company's fifty day simple moving average is $63.08 and its 200-day simple moving average is $64.16.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. Sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Friday, March 14th. Sonic Automotive's dividend payout ratio (DPR) is presently 22.65%.

Sonic Automotive 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.