Millennium Management LLC Has $30.16 Million Stake in Sonic Automotive, Inc. (NYSE:SAH)

Millennium Management LLC lifted its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 3.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,107 shares of the company's stock after purchasing an additional 17,965 shares during the period. Millennium Management LLC owned 1.39% of Sonic Automotive worth $30,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Sonic Automotive by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after buying an additional 20,058 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Sonic Automotive by 52.1% during the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock worth $5,129,000 after acquiring an additional 27,726 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Sonic Automotive by 54.4% during the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock worth $2,851,000 after acquiring an additional 15,849 shares during the last quarter. Northern Trust Corp raised its stake in Sonic Automotive by 6.7% in the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company's stock valued at $18,443,000 after acquiring an additional 18,232 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Sonic Automotive in the 4th quarter valued at $244,000. 46.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SAH shares. JPMorgan Chase & Co. reduced their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Wall Street Zen raised shares of Sonic Automotive from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. 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. Stephens raised their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC reduced 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.83.

Sonic Automotive Stock Performance

NYSE:SAH traded up $0.36 during mid-day trading on Thursday, reaching $67.24. 159,710 shares of the company's stock were exchanged, compared to its average volume of 192,607. Sonic Automotive, Inc. has a one year low of $51.27 and a one year high of $76.78. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. The business's fifty day simple moving average is $61.39 and its two-hundred day simple moving average is $65.28. The firm has a market capitalization of $2.28 billion, a PE ratio of 10.88 and a beta of 1.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analyst estimates of $3.47 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business's revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Sonic Automotive, Inc. will post 6.14 earnings per share 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. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

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.