Sonic Corp. (NASDAQ:SONC) shares fell 1.1% on Friday . The company traded as low as $27.81 and last traded at $27.88, with a volume of 476,952 shares traded. The stock had previously closed at $28.19.

A number of brokerages have weighed in on SONC. Sterne Agee CRT reiterated a “buy” rating on shares of Sonic Corp. in a research report on Monday, May 16th. Bank of America Corp. decreased their price objective on shares of Sonic Corp. from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Jefferies Group decreased their price objective on shares of Sonic Corp. from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Friday, June 24th. Barclays PLC decreased their price objective on shares of Sonic Corp. from $33.00 to $30.00 and set an “underweight” rating for the company in a research report on Friday, June 24th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $40.00 price objective on shares of Sonic Corp. in a research report on Friday, June 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Sonic Corp. currently has a consensus rating of “Buy” and a consensus price target of $35.44.

The stock’s 50 day moving average is $28.06 and its 200 day moving average is $30.41. The firm has a market capitalization of $1.33 billion and a P/E ratio of 21.75.

Sonic Corp. (NASDAQ:SONC) last issued its quarterly earnings data on Thursday, June 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $165.24 million for the quarter. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Equities analysts expect that Sonic Corp. will post $1.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Wednesday, August 10th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.57%. The ex-dividend date was Monday, August 8th.

A hedge fund recently raised its stake in Sonic Corp. stock. Wells Fargo & Company MN raised its stake in Sonic Corp. (NASDAQ:SONC) by 51.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,195 shares of the company’s stock after buying an additional 103,164 shares during the period. Wells Fargo & Company MN owned 0.62% of Sonic Corp. worth $9,764,000 as of its most recent filing with the SEC.

Sonic Corp. operates and franchises a chain of drive-in restaurants in the United States. The Company has around 3,512 Sonic Drive-Ins in 44 states of the United States. The Company’s product categories include Burgers, Coneys and Hot Dogs, Chicken, Breakfast, Snacks and Sides, Drinks, Ice Cream, and Wacky Pack.

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