ProShare Advisors LLC Takes Position in Sonic Automotive, Inc. (NYSE:SAH)

ProShare Advisors LLC bought a new stake in Sonic Automotive, Inc. (NYSE:SAH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,447 shares of the company's stock, valued at approximately $282,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock worth $98,658,000 after purchasing an additional 20,058 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Sonic Automotive by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock worth $5,129,000 after purchasing an additional 27,726 shares in the last quarter. Northern Trust Corp boosted its position in Sonic Automotive by 6.7% in the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company's stock worth $18,443,000 after purchasing an additional 18,232 shares in the last quarter. New York State Common Retirement Fund boosted its position in Sonic Automotive by 54.4% in the 4th 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. Finally, SG Americas Securities LLC purchased a new stake in Sonic Automotive in the 4th quarter worth approximately $244,000. Hedge funds and other institutional investors own 46.92% of the company's stock.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, President Jeff Dyke sold 31,152 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $70.05, for a total value of $2,182,197.60. Following the transaction, the president now directly owns 605,969 shares in the company, valued at approximately $42,448,128.45. This represents a 4.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 50,000 shares of company stock worth $3,502,062. Corporate insiders own 42.65% of the company's stock.

Sonic Automotive Price Performance

Shares of NYSE SAH traded down $0.44 during trading on Wednesday, hitting $70.56. 184,168 shares of the company were exchanged, compared to its average volume of 194,085. Sonic Automotive, Inc. has a 1 year low of $51.27 and a 1 year 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's fifty day moving average price is $63.19 and its 200 day moving average price is $65.67. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 11.42 and a beta of 1.04.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 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 business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.98%. Sonic Automotive's dividend payout ratio (DPR) is 19.94%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Benchmark initiated coverage on Sonic Automotive in a research note on Wednesday, May 28th. They set a "buy" rating and a $76.00 target price for the company. Stephens raised their price objective on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Citigroup began coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 target price on the stock. Needham & Company LLC dropped their price objective 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.