Teachers Retirement System of The State of Kentucky Has $285,000 Stake in Sonic Automotive, Inc. (NYSE:SAH)
Teachers Retirement System of The State of Kentucky maintained its position in Sonic Automotive, Inc. (NYSE:SAH) during the first quarter, Holdings Channel reports. The fund owned 14,200 shares of the company’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Sonic Automotive were worth $285,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in SAH. Hotchkis & Wiley Capital Management LLC boosted its position in Sonic Automotive by 1.3% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 2,632,623 shares of the company’s stock worth $52,784,000 after buying an additional 34,790 shares during the period. LSV Asset Management boosted its position in Sonic Automotive by 12.5% in the first quarter. LSV Asset Management now owns 2,403,776 shares of the company’s stock worth $48,195,000 after buying an additional 267,492 shares during the period. Vanguard Group Inc. boosted its position in Sonic Automotive by 3.5% in the first quarter. Vanguard Group Inc. now owns 2,344,255 shares of the company’s stock worth $47,002,000 after buying an additional 78,687 shares during the period. FMR LLC boosted its position in Sonic Automotive by 2.8% in the first quarter. FMR LLC now owns 1,259,500 shares of the company’s stock worth $25,253,000 after buying an additional 34,500 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Sonic Automotive by 67.1% in the first quarter. Bank of New York Mellon Corp now owns 835,575 shares of the company’s stock worth $16,753,000 after buying an additional 335,459 shares during the period. 63.25% of the stock is owned by hedge funds and other institutional investors.
Sonic Automotive, Inc. (NYSE:SAH) traded down 1.47% during midday trading on Thursday, hitting $16.75. The stock had a trading volume of 56,930 shares. The company has a 50-day moving average price of $18.59 and a 200-day moving average price of $20.02. Sonic Automotive, Inc. has a 52 week low of $16.50 and a 52 week high of $27.45. The stock has a market cap of $734.67 million, a P/E ratio of 11.27 and a beta of 1.51.
Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.06. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.44 billion. Sonic Automotive had a return on equity of 11.14% and a net margin of 0.69%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Equities analysts expect that Sonic Automotive, Inc. will post $1.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.20 annualized dividend and a dividend yield of 1.18%. Sonic Automotive’s payout ratio is 13.42%.
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SAH has been the subject of a number of research analyst reports. TheStreet cut shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research report on Wednesday, May 3rd. BidaskClub cut shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a research report on Thursday. ValuEngine cut shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley reduced their price objective on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Friday, June 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.75.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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