Vanguard Group Inc. Reduces Position in Sonic Automotive, Inc. $SAH

Vanguard Group Inc. lessened its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,630,672 shares of the company’s stock after selling 15,778 shares during the quarter. Vanguard Group Inc.’s holdings in Sonic Automotive were worth $100,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of SAH. Royal Bank of Canada boosted its stake in shares of Sonic Automotive by 37.1% during the 1st quarter. Royal Bank of Canada now owns 13,946 shares of the company’s stock worth $795,000 after acquiring an additional 3,777 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Sonic Automotive by 13.6% during the 1st quarter. AQR Capital Management LLC now owns 23,310 shares of the company’s stock worth $1,328,000 after acquiring an additional 2,793 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sonic Automotive by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company’s stock worth $504,000 after acquiring an additional 483 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Sonic Automotive by 124.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock worth $20,239,000 after acquiring an additional 197,336 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Sonic Automotive by 15.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,698 shares of the company’s stock worth $2,204,000 after acquiring an additional 5,286 shares during the last quarter. Hedge funds and other institutional investors own 46.92% of the company’s stock.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, major shareholder Paul P. Rusnak bought 11,481 shares of Sonic Automotive stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average cost of $59.95 per share, for a total transaction of $688,285.95. Following the acquisition, the insider directly owned 5,100,000 shares in the company, valued at approximately $305,745,000. This represents a 0.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 43.68% of the stock is currently owned by company insiders.

Sonic Automotive Stock Performance

NYSE:SAH opened at $76.19 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 1.93. Sonic Automotive, Inc. has a 12-month low of $54.11 and a 12-month high of $89.62. The stock has a 50-day moving average price of $67.79 and a 200 day moving average price of $64.56. The stock has a market capitalization of $2.41 billion, a P/E ratio of 24.27, a P/E/G ratio of 1.67 and a beta of 0.89.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Thursday, April 30th. The company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.22. Sonic Automotive had a net margin of 0.72% and a return on equity of 22.45%. The firm had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period in the previous year, the firm posted $1.48 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts forecast that Sonic Automotive, Inc. will post 6.8 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.41 dividend. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.2%. Sonic Automotive’s payout ratio is presently 48.41%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Sonic Automotive in a research note on Friday, March 27th. JPMorgan Chase & Co. upped their target price on shares of Sonic Automotive from $67.00 to $77.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Citigroup increased their price target on Sonic Automotive from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research raised Sonic Automotive from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Bank of America began coverage on Sonic Automotive in a research report on Wednesday, March 4th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $82.13.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.