JPMorgan Chase & Co. Buys 27,726 Shares of Sonic Automotive, Inc. (NYSE:SAH)

JPMorgan Chase & Co. increased its holdings in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 52.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,957 shares of the company's stock after buying an additional 27,726 shares during the quarter. JPMorgan Chase & Co. owned about 0.24% of Sonic Automotive worth $5,129,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SAH. Denali Advisors LLC lifted its stake in Sonic Automotive by 111.2% during the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company's stock worth $5,518,000 after purchasing an additional 45,857 shares during the last quarter. Vanguard Group Inc. lifted its position in Sonic Automotive by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after acquiring an additional 20,058 shares during the period. Barclays PLC increased its stake in Sonic Automotive by 346.1% in the 3rd quarter. Barclays PLC now owns 24,413 shares of the company's stock valued at $1,427,000 after buying an additional 18,940 shares during the period. New York State Common Retirement Fund boosted its holdings in Sonic Automotive by 54.4% in the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock valued at $2,851,000 after purchasing an additional 15,849 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in Sonic Automotive by 12.4% in the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company's stock worth $8,369,000 after acquiring an additional 14,600 shares in the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Price Performance

SAH traded down $0.60 during trading on Monday, hitting $58.13. The company's stock had a trading volume of 176,215 shares, compared to its average volume of 196,758. Sonic Automotive, Inc. has a 12 month low of $48.61 and a 12 month high of $76.78. The firm's 50 day moving average price is $63.08 and its two-hundred day moving average price is $64.16. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 9.41 and a beta of 1.43.

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 analysts' consensus estimates 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 forecast that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, March 14th. Sonic Automotive's dividend payout ratio (DPR) is presently 22.65%.

Analysts Set New Price Targets

Several brokerages have issued reports on SAH. Stephens upped their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Needham & Company LLC lowered their price target on Sonic Automotive from $100.00 to $93.00 and set a "buy" rating for the company in a report on Wednesday, March 19th. StockNews.com downgraded shares of Sonic Automotive from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their target price on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Sonic Automotive has a consensus rating of "Moderate Buy" and a consensus price target of $74.80.

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.