27,683 Shares in Sonic Automotive, Inc. $SAH Purchased by UniSuper Management Pty Ltd

Key Points

• UniSuper Management Pty Ltd purchased 27,683 shares of Sonic Automotive valued at approximately $1.58 million in the first quarter, increasing the total institutional ownership to 46.92%.
• Sonic Automotive's recent earnings report showed an EPS of $2.19, surpassing estimates, with revenue of $3.66 billion, up 5.9% year-over-year.
• The company announced a quarterly dividend increase from $0.35 to $0.38, resulting in a dividend yield of 1.9%.

UniSuper Management Pty Ltd bought a new stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,683 shares of the company's stock, valued at approximately $1,577,000. UniSuper Management Pty Ltd owned 0.08% of Sonic Automotive as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Petrus Trust Company LTA acquired a new position in Sonic Automotive in the 1st quarter valued at approximately $866,000. PharVision Advisers LLC acquired a new position in shares of Sonic Automotive in the 1st quarter worth approximately $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sonic Automotive by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company's stock worth $504,000 after buying an additional 483 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Sonic Automotive by 13.6% in the 1st quarter. AQR Capital Management LLC now owns 23,310 shares of the company's stock worth $1,328,000 after buying an additional 2,793 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Sonic Automotive by 208.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 63,769 shares of the company's stock worth $3,632,000 after buying an additional 43,089 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company's stock.

Wall Street Analyst Weigh In

SAH has been the subject of a number of recent research reports. Bank of America increased their target price on Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Wall Street Zen cut Sonic Automotive from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. Stephens cut Sonic Automotive from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $72.00 to $82.00 in a report on Thursday, July 17th. Morgan Stanley raised their price objective on shares of Sonic Automotive from $60.00 to $72.00 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Finally, Zacks Research lowered shares of Sonic Automotive from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sonic Automotive currently has an average rating of "Hold" and an average target price of $79.86.

Sonic Automotive Stock Down 2.8%

NYSE SAH opened at $80.96 on Thursday. The stock has a fifty day moving average of $80.16 and a 200-day moving average of $71.20. The stock has a market capitalization of $2.76 billion, a P/E ratio of 17.99 and a beta of 0.98. Sonic Automotive, Inc. has a 52 week low of $52.00 and a 52 week high of $89.62. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.24 and a current ratio of 1.03.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $1.63 by $0.56. The company had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. Sonic Automotive had a return on equity of 21.40% and a net margin of 1.07%.The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $1.47 EPS. On average, equities research analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.38 dividend. This is an increase from Sonic Automotive's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.9%. Sonic Automotive's payout ratio is 31.11%.

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.

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