Vanguard Group Inc. Acquires 96,836 Shares of Sonic Automotive, Inc. $SAH

Vanguard Group Inc. grew its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH) by 6.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,646,450 shares of the company’s stock after acquiring an additional 96,836 shares during the period. Vanguard Group Inc. owned about 4.82% of Sonic Automotive worth $125,278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its holdings in Sonic Automotive by 39.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 68,842 shares of the company’s stock worth $5,238,000 after buying an additional 19,483 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Sonic Automotive by 7.1% in the third quarter. Illinois Municipal Retirement Fund now owns 7,678 shares of the company’s stock worth $584,000 after acquiring an additional 507 shares during the period. Rhumbline Advisers boosted its holdings in Sonic Automotive by 1.7% in the third quarter. Rhumbline Advisers now owns 46,995 shares of the company’s stock valued at $3,576,000 after acquiring an additional 772 shares during the last quarter. Versor Investments LP increased its position in Sonic Automotive by 69.6% during the 3rd quarter. Versor Investments LP now owns 8,800 shares of the company’s stock valued at $670,000 after purchasing an additional 3,610 shares during the period. Finally, Jackson Creek Investment Advisors LLC raised its holdings in Sonic Automotive by 311.2% during the 3rd quarter. Jackson Creek Investment Advisors LLC now owns 23,571 shares of the company’s stock worth $1,794,000 after purchasing an additional 17,839 shares during the last quarter. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Stock Up 2.2%

Sonic Automotive stock opened at $62.81 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 0.32 and a debt-to-equity ratio of 1.80. The firm’s fifty day moving average price is $62.36 and its two-hundred day moving average price is $68.08. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 18.53 and a beta of 0.91. Sonic Automotive, Inc. has a 1-year low of $52.00 and a 1-year high of $89.62.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). The business had revenue of $3.87 billion during the quarter, compared to the consensus estimate of $3.94 billion. Sonic Automotive had a net margin of 0.78% and a return on equity of 21.54%. Sonic Automotive’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.51 EPS. On average, equities research analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, March 13th. Sonic Automotive’s dividend payout ratio is presently 44.84%.

Insiders Place Their Bets

In other news, major shareholder Paul P. Rusnak acquired 48,540 shares of the business’s stock in a transaction on Friday, February 13th. The shares were purchased at an average cost of $59.92 per share, with a total value of $2,908,516.80. Following the acquisition, the insider directly owned 5,088,519 shares of the company’s stock, valued at $304,904,058.48. The trade was a 0.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders acquired 100,000 shares of company stock worth $5,994,472. 42.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SAH shares. Citigroup raised shares of Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, November 6th. Zacks Research lowered Sonic Automotive from a “hold” rating to a “strong sell” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $90.00 target price on shares of Sonic Automotive in a research report on Thursday, February 19th. Morgan Stanley set a $68.00 target price on Sonic Automotive in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. cut their price target on Sonic Automotive from $70.00 to $67.00 and set an “underweight” rating on the stock in a report on Friday, January 16th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.50.

Sonic Automotive Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.