Dimensional Fund Advisors LP Purchases 48,599 Shares of Sonic Automotive, Inc. $SAH

Dimensional Fund Advisors LP raised its stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,313,857 shares of the company's stock after buying an additional 48,599 shares during the quarter. Dimensional Fund Advisors LP owned 3.91% of Sonic Automotive worth $90,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp boosted its position in Sonic Automotive by 9.8% during the fourth quarter. State Street Corp now owns 701,133 shares of the company's stock valued at $43,623,000 after purchasing an additional 62,426 shares during the last quarter. Invesco Ltd. grew its holdings in Sonic Automotive by 11.9% during the 4th quarter. Invesco Ltd. now owns 510,963 shares of the company's stock worth $31,608,000 after acquiring an additional 54,455 shares during the last quarter. Millennium Management LLC raised its holdings in Sonic Automotive by 20.5% during the 3rd quarter. Millennium Management LLC now owns 383,117 shares of the company's stock worth $29,151,000 after purchasing an additional 65,266 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Sonic Automotive by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 375,034 shares of the company's stock worth $23,204,000 after buying an additional 4,443 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Sonic Automotive by 124.9% during the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock worth $20,239,000 after purchasing an additional 197,336 shares during the period. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Performance

Shares of SAH opened at $112.29 on Thursday. The stock has a fifty day moving average price of $87.78 and a 200-day moving average price of $73.57. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 1.93. The firm has a market cap of $3.55 billion, a PE ratio of 35.76, a P/E/G ratio of 1.60 and a beta of 0.89. Sonic Automotive, Inc. has a 12 month low of $54.11 and a 12 month high of $113.67.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.22. The firm had revenue of $3.69 billion during the quarter, compared to analysts' expectations of $3.73 billion. Sonic Automotive had a return on equity of 22.45% and a net margin of 0.72%.The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. Equities research analysts predict that Sonic Automotive, Inc. will post 6.93 earnings per share for the current fiscal year.

Insider Activity

In related news, President Jeff Dyke sold 35,114 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $85.22, for a total transaction of $2,992,415.08. Following the completion of the sale, the president directly owned 543,668 shares in the company, valued at approximately $46,331,386.96. The trade was a 6.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,000 shares of company stock valued at $8,408,160 over the last quarter. Insiders own 43.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SAH. Morgan Stanley set a $72.00 price objective on Sonic Automotive in a research report on Thursday, May 7th. Citigroup raised their price target on shares of Sonic Automotive from $82.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, May 11th. UBS Group increased their price target on shares of Sonic Automotive from $90.00 to $109.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Stephens set a $89.00 price objective on shares of Sonic Automotive in a research report on Monday, July 13th. Finally, Weiss Ratings raised Sonic Automotive from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $90.67.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive's dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.

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