Sonic Automotive, Inc. $SAH Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 23.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,341 shares of the company's stock after purchasing an additional 4,745 shares during the period. American Century Companies Inc. owned approximately 0.07% of Sonic Automotive worth $1,443,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in Sonic Automotive by 2.0% during the first quarter. Russell Investments Group Ltd. now owns 22,581 shares of the company's stock worth $1,286,000 after purchasing an additional 442 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Sonic Automotive by 26.7% during the first quarter. Public Sector Pension Investment Board now owns 46,335 shares of the company's stock worth $2,639,000 after purchasing an additional 9,769 shares in the last quarter. Nuveen LLC purchased a new position in Sonic Automotive during the first quarter worth about $7,317,000. Deutsche Bank AG raised its holdings in Sonic Automotive by 9.0% during the first quarter. Deutsche Bank AG now owns 26,304 shares of the company's stock worth $1,498,000 after purchasing an additional 2,165 shares in the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in Sonic Automotive by 26.2% during the first quarter. Westwood Holdings Group Inc. now owns 641,237 shares of the company's stock worth $36,525,000 after purchasing an additional 133,044 shares in the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Price Performance

Shares of SAH traded down $0.12 during mid-day trading on Friday, reaching $82.98. 114,416 shares of the company's stock were exchanged, compared to its average volume of 184,219. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.78. The company has a 50-day simple moving average of $80.20 and a two-hundred day simple moving average of $70.97. Sonic Automotive, Inc. has a 52-week low of $52.00 and a 52-week high of $89.62. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 18.44 and a beta of 0.98.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.56. Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. The business had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. During the same period last year, the company posted $1.47 EPS. The company's revenue was up 5.9% on a year-over-year basis. On average, sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.38 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.8%. Sonic Automotive's dividend payout ratio is 31.11%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America increased their price target on shares of 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 shares of Sonic Automotive from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $72.00 target price (up from $65.00) on shares of Sonic Automotive in a report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $95.00 target price on shares of Sonic Automotive in a report on Wednesday, August 6th. Finally, Morgan Stanley increased their target price on shares of Sonic Automotive from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $79.86.

About Sonic Automotive

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.