Sonic Co. (NASDAQ:SONC) Director Federico F. Pena sold 4,575 shares of Sonic stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $25.99, for a total value of $118,904.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Federico F. Pena also recently made the following trade(s):

  • On Monday, October 23rd, Federico F. Pena sold 1,161 shares of Sonic stock. The stock was sold at an average price of $25.20, for a total value of $29,257.20.

Shares of Sonic Co. (NASDAQ:SONC) traded up $0.01 during mid-day trading on Friday, reaching $26.08. The company’s stock had a trading volume of 1,048,700 shares, compared to its average volume of 1,321,325. The company has a debt-to-equity ratio of -2.87, a quick ratio of 1.81 and a current ratio of 1.81. Sonic Co. has a 52-week low of $22.11 and a 52-week high of $30.05. The company has a market capitalization of $1,002.60, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.16 and a beta of 1.74.

Sonic (NASDAQ:SONC) last issued its quarterly earnings results on Thursday, January 4th. The restaurant operator reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. Sonic had a negative return on equity of 28.95% and a net margin of 13.68%. The firm had revenue of $105.40 million during the quarter, compared to analyst estimates of $106.86 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. The company’s revenue was down 18.7% compared to the same quarter last year. equities analysts expect that Sonic Co. will post 1.52 earnings per share for the current fiscal year.

Sonic announced that its Board of Directors has initiated a stock buyback program on Thursday, October 26th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the restaurant operator to reacquire up to 14.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, February 6th. Sonic’s dividend payout ratio (DPR) is currently 43.24%.

A number of hedge funds have recently modified their holdings of SONC. UBS Asset Management Americas Inc. lifted its stake in Sonic by 3,507.8% during the second quarter. UBS Asset Management Americas Inc. now owns 420,125 shares of the restaurant operator’s stock worth $11,129,000 after purchasing an additional 408,480 shares during the last quarter. Atlanta Capital Management Co. L L C bought a new stake in shares of Sonic in the 3rd quarter valued at about $7,681,000. Macquarie Group Ltd. lifted its stake in shares of Sonic by 25.4% in the 3rd quarter. Macquarie Group Ltd. now owns 1,462,539 shares of the restaurant operator’s stock valued at $37,222,000 after acquiring an additional 296,665 shares during the last quarter. OxFORD Asset Management LLP lifted its stake in shares of Sonic by 406.0% in the 3rd quarter. OxFORD Asset Management LLP now owns 234,792 shares of the restaurant operator’s stock valued at $5,954,000 after acquiring an additional 188,389 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Sonic by 103.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 300,140 shares of the restaurant operator’s stock valued at $7,639,000 after acquiring an additional 152,900 shares during the last quarter.

Several research firms recently commented on SONC. Oppenheimer cut Sonic from an “outperform” rating to a “market perform” rating and set a $29.00 target price for the company. in a research report on Thursday, January 4th. Zacks Investment Research upgraded Sonic from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, January 10th. BidaskClub upgraded Sonic from a “sell” rating to a “hold” rating in a research report on Saturday, December 2nd. Cowen restated a “neutral” rating on shares of Sonic in a research report on Tuesday, October 17th. Finally, UBS Group restated a “neutral” rating and set a $28.00 target price (up from $26.00) on shares of Sonic in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.64.

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About Sonic

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

Insider Buying and Selling by Quarter for Sonic (NASDAQ:SONC)

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