New York State Common Retirement Fund Has $2.85 Million Position in Sonic Automotive, Inc. (NYSE:SAH)

New York State Common Retirement Fund lifted its holdings in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 54.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,000 shares of the company's stock after acquiring an additional 15,849 shares during the quarter. New York State Common Retirement Fund owned approximately 0.13% of Sonic Automotive worth $2,851,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. R Squared Ltd acquired a new position in shares of Sonic Automotive during the fourth quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Sonic Automotive by 100.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock worth $70,000 after acquiring an additional 599 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sonic Automotive during the fourth quarter worth about $244,000. MQS Management LLC bought a new stake in Sonic Automotive during the 3rd quarter worth approximately $394,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Sonic Automotive in the third quarter valued at approximately $532,000. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Stock Performance

Shares of SAH traded up $1.37 during mid-day trading on Wednesday, hitting $67.46. 141,867 shares of the company's stock were exchanged, compared to its average volume of 193,530. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a 52 week low of $47.82 and a 52 week high of $76.78. The stock's 50-day simple moving average is $69.08 and its 200-day simple moving average is $63.77. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 10.92 and a beta of 1.68.

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Sonic Automotive (NYSE:SAH - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS 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%. On average, equities research analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Sonic Automotive's dividend payout ratio is currently 22.65%.

Analysts Set New Price Targets

SAH has been the topic of several research reports. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. Needham & Company LLC boosted their price target on Sonic Automotive from $74.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Seaport Res Ptn raised shares of Sonic Automotive from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price objective on Sonic Automotive from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Stephens increased their target price on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $79.20.

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.