Wealth Enhancement Advisory Services LLC Takes Position in Sonic Automotive, Inc. (NYSE:SAH)

Wealth Enhancement Advisory Services LLC acquired a new position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,095 shares of the company's stock, valued at approximately $532,000.

Other large investors also recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. grew its stake in Sonic Automotive by 12.6% in the 1st quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company's stock worth $35,898,000 after buying an additional 70,540 shares in the last quarter. Victory Capital Management Inc. increased its stake in Sonic Automotive by 524.4% in the second quarter. Victory Capital Management Inc. now owns 100,602 shares of the company's stock valued at $5,480,000 after acquiring an additional 84,489 shares during the last quarter. Quantbot Technologies LP raised its position in Sonic Automotive by 109.1% during the first quarter. Quantbot Technologies LP now owns 17,623 shares of the company's stock valued at $1,003,000 after purchasing an additional 9,193 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Sonic Automotive during the third quarter worth about $1,244,000. Finally, Millennium Management LLC boosted its holdings in shares of Sonic Automotive by 3.8% in the 2nd quarter. Millennium Management LLC now owns 456,588 shares of the company's stock worth $24,870,000 after purchasing an additional 16,556 shares in the last quarter. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Price Performance

Shares of Sonic Automotive stock remained flat at $64.60 during trading on Friday. 206,307 shares of the stock were exchanged, compared to its average volume of 197,636. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 11.49 and a beta of 1.61. Sonic Automotive, Inc. has a one year low of $47.82 and a one year high of $66.25. The stock's 50-day moving average is $57.33 and its two-hundred day moving average is $57.36.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter last year, the business posted $2.02 EPS. The company's quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts forecast that Sonic Automotive, Inc. will post 5.73 earnings per share for the current year.

Sonic Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.35 per share. This is an increase from Sonic Automotive's previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, December 13th. Sonic Automotive's payout ratio is presently 24.91%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SAH. Needham & Company LLC boosted their target price on Sonic Automotive from $73.00 to $74.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Stephens started coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They issued an "equal weight" rating and a $64.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an "overweight" rating in a report on Tuesday, September 10th. Bank of America cut their price target on shares of Sonic Automotive from $67.00 to $66.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Finally, Morgan Stanley raised Sonic Automotive from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $40.00 to $58.00 in a research note on Wednesday, September 25th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.40.

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.