Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 44.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,700 shares of the company's stock after selling 4,600 shares during the period. LSV Asset Management's holdings in Sonic Automotive were worth $361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its holdings in Sonic Automotive by 346.1% during the third 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 last quarter. Franklin Resources Inc. raised its holdings in Sonic Automotive by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock worth $530,000 after purchasing an additional 609 shares during the period. JPMorgan Chase & Co. grew its holdings in Sonic Automotive by 68.6% during the third quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company's stock valued at $3,113,000 after purchasing an additional 21,650 shares during the period. Harbor Capital Advisors Inc. raised its stake in shares of Sonic Automotive by 1.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company's stock worth $3,570,000 after buying an additional 978 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Sonic Automotive during the 4th quarter valued at about $244,000. 46.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Sonic Automotive from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Needham & Company LLC dropped their price objective on shares of Sonic Automotive from $100.00 to $93.00 and set a "buy" rating for the company 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 on the stock in a report on Thursday, March 27th. Finally, Stephens increased their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $74.80.

Sonic Automotive Trading Up 1.1 %

Shares of SAH traded up $0.67 during midday trading on Friday, hitting $58.87. The stock had a trading volume of 190,590 shares, compared to its average volume of 196,875. The firm has a market cap of $1.99 billion, a PE ratio of 9.53 and a beta of 1.43. The stock's 50 day moving average is $63.35 and its 200 day moving average is $64.04. Sonic Automotive, Inc. has a 1 year low of $47.82 and a 1 year high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. As a group, analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

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

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.