Phocas Financial Corp. decreased its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 71.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,665 shares of the company's stock after selling 44,670 shares during the quarter. Phocas Financial Corp. owned 0.05% of Sonic Automotive worth $1,119,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in SAH. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company's stock worth $70,000 after purchasing an additional 599 shares during the period. R Squared Ltd bought a new position in shares of Sonic Automotive during the 4th quarter worth about $72,000. SG Americas Securities LLC bought a new position in shares of Sonic Automotive during the 4th quarter worth about $244,000. MQS Management LLC bought a new stake in Sonic Automotive in the third quarter valued at about $394,000. Finally, Franklin Resources Inc. increased its stake in Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after acquiring an additional 609 shares during the period. Institutional investors own 46.92% of the company's stock.
Analyst Upgrades and Downgrades
SAH has been the topic of a number of analyst reports. Stephens upped their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. StockNews.com raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. upped their target price on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. Needham & Company LLC upped their target price on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, 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. One investment 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 stock. According to data from MarketBeat.com, Sonic Automotive currently has a consensus rating of "Buy" and a consensus price target of $79.20.
Check Out Our Latest Report on Sonic Automotive
Sonic Automotive Price Performance
NYSE:SAH traded down $0.30 on Friday, reaching $68.08. The stock had a trading volume of 187,874 shares, compared to its average volume of 191,053. The company has a market capitalization of $2.33 billion, a P/E ratio of 11.02 and a beta of 1.68. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $76.78. 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 fifty day moving average price of $68.98 and a 200-day moving average price of $63.61.
Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 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%. Research analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.
Sonic Automotive Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.06%. Sonic Automotive's payout ratio is 22.65%.
About Sonic Automotive
(
Free Report)
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.
Further Reading
Before you consider Sonic Automotive, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sonic Automotive wasn't on the list.
While Sonic Automotive currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
