Phocas Financial Corp. Acquires 54,008 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Phocas Financial Corp. lifted its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 86.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,343 shares of the company's stock after purchasing an additional 54,008 shares during the period. Phocas Financial Corp. owned about 0.35% of Sonic Automotive worth $7,370,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of SAH. Smartleaf Asset Management LLC raised its stake in Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after acquiring an additional 402 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Sonic Automotive during the fourth quarter worth about $51,000. R Squared Ltd acquired a new stake in Sonic Automotive during the fourth quarter worth about $72,000. Aster Capital Management DIFC Ltd raised its stake in Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after acquiring an additional 1,444 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Sonic Automotive during the fourth quarter worth about $185,000. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Price Performance

Shares of NYSE SAH traded down $0.75 during mid-day trading on Thursday, reaching $69.22. 189,264 shares of the company traded hands, compared to its average volume of 193,345. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. 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 firm has a market cap of $2.35 billion, a PE ratio of 11.20 and a beta of 1.04. The stock has a fifty day simple moving average of $62.17 and a 200-day simple moving average of $65.50.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted 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. The firm had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 earnings per share. Equities research analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 annualized dividend and a yield of 2.02%. Sonic Automotive's dividend payout ratio (DPR) is 19.94%.

Wall Street Analysts Forecast Growth

SAH has been the topic of several research reports. Stephens increased their price objective 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. Citigroup initiated coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target on the stock. Benchmark began coverage on Sonic Automotive in a report on Wednesday. They issued a "buy" rating and a $76.00 price objective for the company. Wall Street Zen raised Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Finally, Needham & Company LLC decreased their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average 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.