11,213 Shares in Sonic Automotive, Inc. $SAH Bought by Caxton Associates LLP

Key Points

• Caxton Associates LLP has acquired a new stake in Sonic Automotive, purchasing 11,213 shares valued at approximately $639,000 during the first quarter of the year.
• Sonic Automotive has announced an increase in its quarterly dividend to $0.38 per share, which will be paid on October 15th, signifying an annualized dividend yield of 1.8%.
• The company's last reported earnings showed an EPS of $2.19, exceeding analysts' expectations of $1.63, with revenue of $3.66 billion for the quarter.

Caxton Associates LLP bought a new stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,213 shares of the company's stock, valued at approximately $639,000.

Several other large investors also recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its stake in shares of Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock valued at $20,239,000 after buying an additional 197,336 shares during the period. UniSuper Management Pty Ltd purchased a new position in Sonic Automotive in the first quarter worth approximately $1,577,000. Petrus Trust Company LTA acquired a new position in Sonic Automotive during the 1st quarter worth approximately $866,000. PharVision Advisers LLC acquired a new position in Sonic Automotive during the 1st quarter worth approximately $247,000. Finally, 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 valued at $504,000 after purchasing an additional 483 shares in the last quarter. Hedge funds and other institutional investors own 46.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SAH. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $72.00 target price (up previously from $65.00) on shares of Sonic Automotive in a report on Thursday, July 17th. Needham & Company LLC reissued a "buy" rating and set a $95.00 price objective on shares of Sonic Automotive in a report on Wednesday, August 6th. Benchmark raised their price target on Sonic Automotive from $76.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Zacks Research cut shares of Sonic Automotive from a "strong-buy" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Wall Street Zen downgraded Sonic Automotive from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. One investment 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $79.86.

Sonic Automotive Trading Down 0.1%

Sonic Automotive stock traded down $0.05 during trading on Wednesday, hitting $79.27. The company's stock had a trading volume of 9,472 shares, compared to its average volume of 222,535. The stock's fifty day moving average is $79.61 and its 200 day moving average is $71.54. Sonic Automotive, Inc. has a 1-year low of $52.00 and a 1-year high of $89.62. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 17.61 and a beta of 0.98. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.56. The business had revenue of $3.66 billion for the quarter, compared to analysts' expectations of $3.66 billion. Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the company earned $1.47 earnings per share. As a group, equities research analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.38 dividend. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.35. The ex-dividend date is Monday, September 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.9%. Sonic Automotive's dividend payout ratio (DPR) is 33.78%.

Sonic Automotive Company 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.