Counterpoint Mutual Funds LLC Invests $360,000 in Sonic Automotive, Inc. $SAH

Key Points

• Counterpoint Mutual Funds LLC invested $360,000 in Sonic Automotive, acquiring 4,499 shares during the 2nd quarter of the year.
• Sonic Automotive has recently declared a quarterly dividend increase from $0.35 to $0.38, representing a yield of 1.9% and an annualized dividend of $1.52.
• Despite a slight decline in stock price, analysts predict continued growth for Sonic Automotive, with a consensus forecast of 6.14 EPS for the current year.

Counterpoint Mutual Funds LLC bought a new position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,499 shares of the company's stock, valued at approximately $360,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SAH. Goldman Sachs Group Inc. lifted its stake in shares of Sonic Automotive by 124.9% in the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock worth $20,239,000 after buying an additional 197,336 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Sonic Automotive by 26.2% in the first quarter. Westwood Holdings Group Inc. now owns 641,237 shares of the company's stock worth $36,525,000 after buying an additional 133,044 shares in the last quarter. Nuveen LLC bought a new position in shares of Sonic Automotive in the first quarter worth approximately $7,317,000. HITE Hedge Asset Management LLC lifted its stake in shares of Sonic Automotive by 111.4% in the first quarter. HITE Hedge Asset Management LLC now owns 123,724 shares of the company's stock worth $7,047,000 after buying an additional 65,198 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Sonic Automotive by 263.4% in the first quarter. Jane Street Group LLC now owns 62,908 shares of the company's stock worth $3,583,000 after buying an additional 45,596 shares in the last quarter. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Stock Down 0.4%

SAH opened at $78.54 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.24 and a debt-to-equity ratio of 1.78. Sonic Automotive, Inc. has a 1-year low of $52.00 and a 1-year high of $89.62. The company has a market capitalization of $2.68 billion, a PE ratio of 17.45 and a beta of 0.98. The firm's 50 day simple moving average is $78.63 and its two-hundred day simple moving average is $72.00.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the firm earned $1.47 earnings per share. The company's quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.38 dividend. The ex-dividend date is Monday, September 15th. This is a boost from Sonic Automotive's previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 1.9%. Sonic Automotive's payout ratio is 33.78%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SAH shares. Benchmark increased their price objective on shares of Sonic Automotive from $80.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Stephens downgraded shares of Sonic Automotive from an "overweight" rating to an "equal weight" rating and increased their price objective for the company from $72.00 to $82.00 in a research report on Thursday, July 17th. Needham & Company LLC restated a "buy" rating and set a $95.00 price objective on shares of Sonic Automotive in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Sonic Automotive from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Morgan Stanley increased their price objective on shares of Sonic Automotive from $60.00 to $72.00 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Sonic Automotive has an average rating of "Hold" and an average price target of $80.57.

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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