D. E. Shaw & Co. Inc. Decreases Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

D. E. Shaw & Co. Inc. trimmed its stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 36.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,751 shares of the company's stock after selling 14,671 shares during the quarter. D. E. Shaw & Co. Inc. owned approximately 0.08% of Sonic Automotive worth $1,631,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SAH. Franklin Resources Inc. lifted its stake in shares of Sonic Automotive by 6.7% during the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after buying an additional 609 shares during the period. SG Americas Securities LLC acquired a new position in Sonic Automotive in the fourth quarter valued at $244,000. R Squared Ltd acquired a new position in Sonic Automotive in the fourth quarter valued at $72,000. New York State Teachers Retirement System lifted its position in Sonic Automotive by 0.8% during the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company's stock worth $1,643,000 after buying an additional 212 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Sonic Automotive by 3.2% in the 4th quarter. Principal Financial Group Inc. now owns 71,051 shares of the company's stock valued at $4,501,000 after buying an additional 2,212 shares during the period. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Trading Up 3.4%

SAH traded up $2.27 during trading on Tuesday, hitting $69.41. 167,150 shares of the company's stock were exchanged, compared to its average volume of 192,876. Sonic Automotive, Inc. has a 1 year low of $51.27 and a 1 year high of $76.78. The stock has a 50 day moving average price of $61.98 and a 200 day moving average price of $65.47. The firm has a market cap of $2.36 billion, a P/E ratio of 11.23 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75.

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

Sonic Automotive Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, June 13th. Sonic Automotive's dividend payout ratio is presently 19.94%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SAH shares. Wall Street Zen upgraded shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a report on Saturday. JPMorgan Chase & Co. cut their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Citigroup started coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target on the stock. Needham & Company LLC dropped their price objective on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Stephens increased their target price on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Sonic Automotive has an average rating of "Buy" and an average price target 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.