UBS Asset Management Americas Inc. raised its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,238 shares of the company’s stock after buying an additional 600 shares during the period. UBS Asset Management Americas Inc.’s holdings in Sonic Automotive were worth $861,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SAH. SG Capital Management LLC bought a new position in Sonic Automotive during the second quarter valued at about $9,483,000. State of Wisconsin Investment Board raised its holdings in Sonic Automotive by 2,161.9% during the first quarter. State of Wisconsin Investment Board now owns 190,000 shares of the company’s stock valued at $9,418,000 after buying an additional 181,600 shares in the last quarter. State Street Corp grew its position in shares of Sonic Automotive by 12.4% in the second quarter. State Street Corp now owns 1,020,209 shares of the company’s stock valued at $45,760,000 after purchasing an additional 112,311 shares during the last quarter. Mutual of America Capital Management LLC grew its position in shares of Sonic Automotive by 55.0% in the second quarter. Mutual of America Capital Management LLC now owns 281,472 shares of the company’s stock valued at $12,593,000 after purchasing an additional 99,854 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of Sonic Automotive by 63.5% in the second quarter. Morgan Stanley now owns 237,695 shares of the company’s stock valued at $10,633,000 after purchasing an additional 92,316 shares during the last quarter. Institutional investors own 55.92% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research downgraded Sonic Automotive from a “buy” rating to a “hold” rating and set a $59.00 price target on the stock. in a research report on Tuesday, September 28th. Morgan Stanley downgraded Sonic Automotive from an “equal weight” rating to an “underweight” rating and set a $40.00 price target on the stock. in a research report on Wednesday, November 17th.
Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, October 27th. The company reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.04. Sonic Automotive had a return on equity of 35.43% and a net margin of 2.58%. The business had revenue of $3.07 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same period last year, the business earned $1.29 earnings per share. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, equities research analysts anticipate that Sonic Automotive, Inc. will post 7.58 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Wednesday, December 15th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, December 14th. Sonic Automotive’s dividend payout ratio (DPR) is presently 6.73%.
About Sonic Automotive
Sonic Automotive, Inc operates as a automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers.
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