Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 13.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,620 shares of the company's stock after selling 12,857 shares during the quarter. Victory Capital Management Inc. owned about 0.24% of Sonic Automotive worth $5,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Denali Advisors LLC raised its holdings in Sonic Automotive by 111.2% in the 4th 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in Sonic Automotive by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 71,051 shares of the company's stock worth $4,501,000 after purchasing an additional 2,212 shares during the last quarter. Phocas Financial Corp. bought a new position in Sonic Automotive in the third quarter valued at about $3,645,000. Harbor Capital Advisors Inc. boosted its stake in shares of Sonic Automotive by 1.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company's stock worth $3,570,000 after acquiring an additional 978 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sonic Automotive by 68.6% in 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. Institutional investors own 46.92% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research firms have commented on SAH. StockNews.com upgraded shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. increased their price objective on Sonic Automotive from $74.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Stephens upped their price objective 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. Seaport Res Ptn upgraded Sonic Automotive from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Finally, Needham & Company LLC dropped their price objective on shares of Sonic Automotive from $100.00 to $93.00 and set a "buy" rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $77.80.

Sonic Automotive Stock Up 1.8 %

NYSE:SAH traded up $1.05 during trading hours on Wednesday, hitting $60.86. The company's stock had a trading volume of 206,003 shares, compared to its average volume of 178,007. The stock has a market capitalization of $2.05 billion, a P/E ratio of 9.85 and a beta of 1.70. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The stock has a fifty day moving average of $69.06 and a 200-day moving average of $63.89. Sonic Automotive, Inc. has a 52-week low of $47.82 and a 52-week high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its 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%. On average, equities analysts forecast that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, March 14th. Sonic Automotive's payout ratio is currently 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.