Sonic Automotive, Inc. (NYSE:SAH) Position Increased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,994 shares of the company's stock after purchasing an additional 6,633 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.19% of Sonic Automotive worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SAH. Phocas Financial Corp. raised its holdings in Sonic Automotive by 86.6% in the 4th quarter. Phocas Financial Corp. now owns 116,343 shares of the company's stock valued at $7,370,000 after acquiring an additional 54,008 shares during the last quarter. Denali Advisors LLC grew its position in shares of Sonic Automotive by 111.2% in the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company's stock valued at $5,518,000 after purchasing an additional 45,857 shares during the period. Voloridge Investment Management LLC increased its stake in Sonic Automotive by 110.9% in the fourth quarter. Voloridge Investment Management LLC now owns 69,766 shares of the company's stock valued at $4,420,000 after purchasing an additional 36,691 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in Sonic Automotive by 105.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock valued at $3,708,000 after purchasing an additional 30,002 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Sonic Automotive by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock worth $5,129,000 after buying an additional 27,726 shares during the period. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Stock Down 2.3%

Shares of SAH traded down $1.74 during mid-day trading on Friday, reaching $75.07. 188,396 shares of the stock traded hands, compared to its average volume of 194,426. The stock has a fifty day simple moving average of $65.65 and a 200 day simple moving average of $66.11. Sonic Automotive, Inc. has a 12-month low of $51.27 and a 12-month high of $77.77. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 12.15 and a beta of 1.02.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the firm posted $1.36 EPS. The firm's quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is currently 19.94%.

Insider Activity

In other news, President Jeff Dyke sold 31,152 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $70.05, for a total transaction of $2,182,197.60. Following the transaction, the president now owns 605,969 shares of the company's stock, valued at approximately $42,448,128.45. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 50,000 shares of company stock worth $3,502,062. 42.65% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on SAH shares. JPMorgan Chase & Co. cut their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Needham & Company LLC decreased their target price on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Benchmark initiated coverage on shares of Sonic Automotive in a research report on Wednesday, May 28th. They set a "buy" rating and a $76.00 price target on the stock. Finally, Citigroup initiated coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $70.71.

About Sonic Automotive

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.