Vanguard Group Inc. Increases Position in Sonic Automotive, Inc. (NYSE:SAH)

Vanguard Group Inc. grew its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,557,344 shares of the company's stock after purchasing an additional 20,058 shares during the quarter. Vanguard Group Inc. owned approximately 4.55% of Sonic Automotive worth $98,658,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Sonic Automotive by 346.1% in the 3rd quarter. Barclays PLC now owns 24,413 shares of the company's stock worth $1,427,000 after buying an additional 18,940 shares during the period. New York State Common Retirement Fund lifted its stake in Sonic Automotive by 54.4% in the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock worth $2,851,000 after acquiring an additional 15,849 shares during the period. JPMorgan Chase & Co. grew its holdings in Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company's stock worth $3,113,000 after acquiring an additional 21,650 shares in the last quarter. SG Americas Securities LLC purchased a new position in Sonic Automotive during the 4th quarter valued at about $244,000. Finally, Franklin Resources Inc. raised its holdings in shares of Sonic Automotive by 6.7% in the 3rd quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after purchasing an additional 609 shares in the last quarter. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Stock Down 1.1 %

Shares of SAH traded down $0.66 during mid-day trading on Tuesday, hitting $58.11. 52,580 shares of the company traded hands, compared to its average volume of 237,170. The company has a market capitalization of $1.96 billion, a PE ratio of 9.40 and a beta of 1.43. 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 business has a 50 day moving average of $64.57 and a 200 day moving average of $64.11. Sonic Automotive, Inc. has a 1-year low of $47.82 and a 1-year high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings results 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%. Equities research analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a yield of 2.41%. Sonic Automotive's payout ratio is presently 22.65%.

Analyst Ratings Changes

A number of equities analysts recently commented on SAH shares. Needham & Company LLC reduced their price objective on shares of Sonic Automotive from $100.00 to $93.00 and set a "buy" rating for the company in a research note on Wednesday, March 19th. Stephens upped their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. 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 note on Thursday, March 27th. Finally, StockNews.com lowered shares of Sonic Automotive from a "buy" rating to a "hold" rating in a research report on Monday, March 24th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $74.80.

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.