Deutsche Bank AG Increases Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Deutsche Bank AG grew its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 55.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,139 shares of the company's stock after purchasing an additional 8,636 shares during the period. Deutsche Bank AG owned approximately 0.07% of Sonic Automotive worth $1,529,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in Sonic Automotive during the fourth quarter valued at about $244,000. R Squared Ltd purchased a new stake in Sonic Automotive during the fourth quarter valued at about $72,000. New York State Teachers Retirement System lifted its stake 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 valued at $1,643,000 after buying an additional 212 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Sonic Automotive by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 71,051 shares of the company's stock worth $4,501,000 after purchasing an additional 2,212 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Sonic Automotive by 54.4% in the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock worth $2,851,000 after purchasing an additional 15,849 shares in the last quarter. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Price Performance

SAH stock traded up $0.46 during midday trading on Wednesday, reaching $69.84. The company had a trading volume of 125,758 shares, compared to its average volume of 192,649. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 11.30 and a beta of 1.04. The stock has a 50 day moving average price of $61.98 and a 200-day moving average price of $65.47. Sonic Automotive, Inc. has a 1-year low of $51.27 and a 1-year high of $76.78.

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

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's payout ratio is presently 19.94%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SAH shares. JPMorgan Chase & Co. lowered their price objective 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. Benchmark began coverage on shares of Sonic Automotive in a research note on Wednesday. They issued a "buy" rating and a $76.00 price objective on the stock. Needham & Company LLC decreased their price target on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Citigroup began coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target on the stock. Finally, Stephens lifted their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Sonic Automotive presently has an average rating of "Buy" and a consensus price target of $70.71.

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.