Prudential Financial Inc. grew its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 49.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,930 shares of the company’s stock after buying an additional 139,778 shares during the period. Prudential Financial Inc. owned 0.96% of Sonic Automotive worth $8,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in SAH. Teachers Advisors LLC raised its position in shares of Sonic Automotive by 29.1% during the fourth quarter. Teachers Advisors LLC now owns 82,309 shares of the company’s stock valued at $1,885,000 after buying an additional 18,571 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Sonic Automotive by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the company’s stock valued at $215,000 after buying an additional 100 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Sonic Automotive by 3.8% during the first quarter. Nisa Investment Advisors LLC now owns 27,200 shares of the company’s stock valued at $545,000 after buying an additional 1,000 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Sonic Automotive by 7.4% during the first quarter. Nationwide Fund Advisors now owns 70,694 shares of the company’s stock valued at $1,417,000 after buying an additional 4,885 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Sonic Automotive by 195.0% during the first quarter. Strs Ohio now owns 35,400 shares of the company’s stock valued at $709,000 after buying an additional 23,400 shares during the last quarter. Hedge funds and other institutional investors own 63.82% of the company’s stock.

Shares of Sonic Automotive, Inc. (NYSE:SAH) opened at 18.45 on Friday. The company has a 50-day moving average of $17.44 and a 200 day moving average of $18.96. The company has a market cap of $809.24 million, a PE ratio of 12.42 and a beta of 1.50. Sonic Automotive, Inc. has a 12 month low of $15.95 and a 12 month high of $27.45.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings data on Friday, July 28th. The company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.06). Sonic Automotive had a net margin of 0.69% and a return on equity of 11.14%. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Sonic Automotive, Inc. will post $1.86 earnings per share for the current year.

The company also recently disclosed 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. This represents a $0.20 annualized dividend and a yield of 1.08%. The ex-dividend date is Thursday, September 14th. Sonic Automotive’s dividend payout ratio is currently 13.42%.

Several equities research analysts have recently issued reports on SAH shares. ValuEngine cut shares of Sonic Automotive from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. TheStreet cut shares of Sonic Automotive from a “b” rating to a “c+” rating in a research report on Tuesday, May 30th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a research report on Friday, September 1st. Jefferies Group LLC reiterated a “hold” rating and set a $22.00 price objective on shares of Sonic Automotive in a research report on Wednesday, July 19th. Finally, Morgan Stanley reduced their price objective on shares of Sonic Automotive from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, June 9th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.75.

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Sonic Automotive 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.

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

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