Goldman Sachs Group Inc. decreased its position in Sonic Automotive, Inc. (NYSE:SAH) by 35.4% during the first quarter, Holdings Channel reports. The firm owned 49,385 shares of the company’s stock after selling 27,004 shares during the period. Goldman Sachs Group Inc.’s holdings in Sonic Automotive were worth $990,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in Sonic Automotive by 8.2% in the first quarter. State Street Corp now owns 823,177 shares of the company’s stock worth $16,501,000 after buying an additional 62,209 shares during the period. Bank of America Corp DE raised its position in Sonic Automotive by 23.8% in the first quarter. Bank of America Corp DE now owns 118,715 shares of the company’s stock worth $2,381,000 after buying an additional 22,812 shares during the period. Schwab Charles Investment Management Inc. raised its position in Sonic Automotive by 12.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 356,413 shares of the company’s stock worth $7,147,000 after buying an additional 39,514 shares during the period. KCG Holdings Inc. bought a new position in Sonic Automotive during the first quarter worth approximately $227,000. Finally, Globeflex Capital L P bought a new position in Sonic Automotive during the first quarter worth approximately $288,000. Hedge funds and other institutional investors own 63.25% of the company’s stock.

Shares of Sonic Automotive, Inc. (NYSE SAH) traded up 0.30% during midday trading on Friday, hitting $16.90. The company’s stock had a trading volume of 264,835 shares. The firm has a market cap of $741.25 million, a P/E ratio of 11.37 and a beta of 1.51. The stock’s 50 day moving average is $18.53 and its 200-day moving average is $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 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 during 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 company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 EPS. Equities analysts predict that Sonic Automotive, Inc. will post $1.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors 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 dividend on an annualized basis and a yield of 1.18%. Sonic Automotive’s dividend payout ratio is presently 13.42%.

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A number of research firms have commented on SAH. BidaskClub lowered Sonic Automotive from a “sell” rating to a “strong sell” rating in a research note on Thursday. Jefferies Group LLC restated a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research note on Wednesday, July 19th. Morgan Stanley lowered their price objective on Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, June 9th. ValuEngine lowered Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, TheStreet lowered Sonic Automotive from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $21.75.

Sonic Automotive Company Profile

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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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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