Capstone Asset Management Co. Acquires 230 Shares of Sonic Automotive, Inc. (NYSE:SAH)
Capstone Asset Management Co. raised its position in Sonic Automotive, Inc. (NYSE:SAH) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,133 shares of the company’s stock after buying an additional 230 shares during the period. Capstone Asset Management Co.’s holdings in Sonic Automotive were worth $314,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Sonic Automotive by 20.4% in the first quarter. Victory Capital Management Inc. now owns 4,976 shares of the company’s stock worth $100,000 after buying an additional 844 shares during the period. Mason Street Advisors LLC boosted its position in shares of Sonic Automotive by 7.1% in the first quarter. Mason Street Advisors LLC now owns 6,146 shares of the company’s stock worth $123,000 after buying an additional 405 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Sonic Automotive by 4.8% in the first quarter. Public Employees Retirement System of Ohio now owns 8,891 shares of the company’s stock worth $178,000 after buying an additional 410 shares during the period. Karp Capital Management Corp acquired a new position in shares of Sonic Automotive during the first quarter worth $211,000. Finally, Louisiana State Employees Retirement System boosted its position in shares of Sonic Automotive by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock worth $215,000 after buying an additional 100 shares during the period. 63.25% of the stock is owned by institutional investors and hedge funds.
Shares of Sonic Automotive, Inc. (NYSE:SAH) traded up 0.30% during mid-day trading on Friday, hitting $16.90. 264,835 shares of the stock traded hands. The company has a market cap of $741.25 million, a price-to-earnings ratio of 11.37 and a beta of 1.51. The stock has a 50-day moving average of $18.53 and a 200-day moving average of $19.95. Sonic Automotive, Inc. has a 52 week low of $16.45 and a 52 week high of $27.45.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Friday, July 28th. The company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by $0.06. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.44 billion. Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 EPS. Analysts anticipate that Sonic Automotive, Inc. will post $1.86 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.20 annualized dividend and a yield of 1.18%. Sonic Automotive’s dividend payout ratio is presently 13.42%.
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A number of brokerages have recently weighed in on SAH. Jefferies Group LLC reissued a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research note on Friday, June 16th. Morgan Stanley dropped 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 note on Friday, June 9th. ValuEngine cut shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub cut shares of Sonic Automotive from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, TheStreet cut shares of Sonic Automotive from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus 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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