Dimensional Fund Advisors LP Sells 52,238 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Dimensional Fund Advisors LP lessened its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,651,903 shares of the company's stock after selling 52,238 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.83% of Sonic Automotive worth $104,649,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Sonic Automotive in the 4th quarter valued at approximately $51,000. R Squared Ltd bought a new position in shares of Sonic Automotive during the fourth quarter valued at $72,000. Aster Capital Management DIFC Ltd grew its stake in shares of Sonic Automotive by 1,429.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after purchasing an additional 1,444 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sonic Automotive in the fourth quarter valued at $185,000. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Sonic Automotive Stock Up 1.7 %

Shares of Sonic Automotive stock traded up $1.05 during trading hours on Friday, reaching $62.83. The company's stock had a trading volume of 33,940 shares, compared to its average volume of 191,773. The company has a market capitalization of $2.12 billion, a P/E ratio of 10.13 and a beta of 1.43. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive, Inc. has a one year low of $51.27 and a one year high of $76.78. The stock's fifty day simple moving average is $61.22 and its two-hundred day simple moving average is $64.35.

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

Sonic Automotive Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a yield of 2.23%. Sonic Automotive's payout ratio is 19.94%.

Analyst Upgrades and Downgrades

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

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.