JPMorgan Chase & Co. lifted its holdings in shares of Sonic Automotive, Inc. (NYSE: SAH – Get Rating) by 23.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 299,947 shares of the company stock after acquiring an additional 56,189 shares during the period. JPMorgan Chase & Co. owned 0.73% of Sonic Automotive worth $ 14,833,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC raised its position in shares of Sonic Automotive by 78.0% during the 4th quarter. First Eagle Investment Management LLC now owns 7,987 shares of the company stock worth $ 395,000 after acquiring an additional 3,500 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Sonic Automotive during the 4th quarter worth about $ 260,000. Spouting Rock Asset Management LLC raised its position in shares of Sonic Automotive by 8.6% during the 4th quarter. Spouting Rock Asset Management LLC now owns 85,787 shares of the company stock worth $ 4,242,000 after acquiring an additional 6,803 shares in the last quarter. Pinebridge Investments LP acquired a new position in Sonic Automotive during the fourth quarter worth approximately $ 45,000. Finally, Teacher Retirement System of Texas acquired a new position in Sonic Automotive during the fourth quarter worth approximately $ 213,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.
Shares of SAH stock opened at $ 45.54 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.45. Sonic Automotive, Inc. has a twelve month low of $ 38.64 and a twelve month high of $ 58.00. The company has a market capitalization of $ 1.80 billion, a P / E ratio of 4.97 and a beta of 2.05. The business’s 50 day moving average is $ 44.44 and its two-hundred day moving average is $ 47.42.
Sonic Automotive (NYSE: SAH – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $ 2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $ 2.45 by ($ 0.12). Sonic Automotive had a net margin of 2.97% and a return on equity of 39.37%. The business had revenue of $ 3.59 billion during the quarter, compared to analysts’ expectations of $ 3.70 billion. During the same quarter last year, the firm earned $ 1.23 earnings per share. The firm’s quarterly revenue was up 28.7% compared to the same quarter last year. As a group, equities analysts predict that Sonic Automotive, Inc. will post 10.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be paid a $ 0.25 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $ 1.00 dividend on an annualized basis and a dividend yield of 2.20%. Sonic Automotive’s dividend payout ratio (DPR) is presently 10.92%.
SAH has been the topic of several research analyst reports. StockNews.com lowered Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday, May 20th. Zacks Investment Research lowered Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $ 52.00 price target on the stock. in a research report on Thursday, March 10th. Morgan Stanley cut their price target on Sonic Automotive from $ 43.00 to $ 40.00 in a research report on Friday, May 20th. Seaport Res Ptn downgraded Sonic Automotive from a “buy” rating to a “neutral” rating in a research note on Friday, April 29th. Finally, JPMorgan Chase & Co. downgraded Sonic Automotive from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $ 70.00 to $ 57.00 in a research note on Thursday, April 7th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $ 49.67.
In other news, major shareholder Paul P. Rusnak bought 127,475 shares of the firm’s stock in a transaction on Wednesday, April 6th. The shares were bought at an average cost of $ 41.89 per share, for a total transaction of $ 5,339,927.75. Following the completion of the transaction, the insider now owns 5,000,000 shares in the company, valued at $ 209,450,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Jeff Dyke sold 2,769 shares of the business’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $ 52.00, for a total value of $ 143,988.00. The disclosure for this sale can be found here. 36.07% of the stock is owned by insiders.
Sonic Automotive Profile: (Get Rating)
Sonic Automotive, Inc. operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.
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