Dimensional Fund Advisors LP Cuts Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Dimensional Fund Advisors LP lessened its stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,651,903 shares of the company's stock after selling 52,238 shares during the period. Dimensional Fund Advisors LP owned approximately 4.83% of Sonic Automotive worth $104,649,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. HITE Hedge Asset Management LLC increased its stake in Sonic Automotive by 105.2% in the 4th quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock worth $3,708,000 after purchasing an additional 30,002 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Sonic Automotive in the 4th quarter worth approximately $51,000. XTX Topco Ltd bought a new stake in shares of Sonic Automotive during the fourth quarter valued at approximately $242,000. Mariner LLC bought a new position in shares of Sonic Automotive in the 4th quarter worth about $225,000. Finally, Barclays PLC boosted its stake in Sonic Automotive by 50.8% during the fourth quarter. Barclays PLC now owns 36,807 shares of the company's stock worth $2,332,000 after acquiring an additional 12,394 shares in the last quarter. Institutional investors own 46.92% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on SAH shares. Needham & Company LLC reduced their target price on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup began coverage on Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective for the company. Stephens upped their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Finally, StockNews.com upgraded shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.83.

Sonic Automotive Stock Performance

SAH traded down $0.54 on Wednesday, reaching $60.80. 219,821 shares of the stock were exchanged, compared to its average volume of 193,294. The company's 50-day moving average price is $61.52 and its 200 day moving average price is $64.33. The firm has a market capitalization of $2.05 billion, a PE ratio of 9.84 and a beta of 1.43. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to analysts' expectations of $3.47 billion. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. Sonic Automotive's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, sell-side analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Sonic Automotive Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.