Mutual Advisors LLC Reduces Stake in Sonic Automotive, Inc. (NYSE:SAH)

Mutual Advisors LLC cut its holdings in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,595 shares of the company's stock after selling 3,037 shares during the quarter. Mutual Advisors LLC owned 0.06% of Sonic Automotive worth $1,241,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SAH. Smartleaf Asset Management LLC increased its position in shares of Sonic Automotive by 515.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after buying an additional 402 shares in the last quarter. Swiss National Bank increased its position in shares of Sonic Automotive by 2.0% during the fourth quarter. Swiss National Bank now owns 30,500 shares of the company's stock worth $1,932,000 after purchasing an additional 600 shares in the last quarter. Commonwealth Equity Services LLC purchased a new stake in shares of Sonic Automotive during the fourth quarter worth approximately $252,000. First Eagle Investment Management LLC increased its position in shares of Sonic Automotive by 12.4% during the fourth quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company's stock worth $8,369,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Sonic Automotive by 34.4% during the fourth quarter. Teacher Retirement System of Texas now owns 10,334 shares of the company's stock worth $655,000 after purchasing an additional 2,645 shares in the last quarter. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Trading Down 0.5%

Shares of Sonic Automotive stock traded down $0.42 during trading hours on Monday, hitting $87.15. The company's stock had a trading volume of 257,884 shares, compared to its average volume of 196,246. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $89.00. The firm has a fifty day moving average of $72.12 and a 200-day moving average of $67.55. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 12.41, a P/E/G ratio of 0.77 and a beta of 1.04. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.38 and a current ratio of 1.09.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. Sonic Automotive had a return on equity of 19.42% and a net margin of 1.69%. The business 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 company posted $1.36 EPS. The company's quarterly revenue was up 7.9% on a year-over-year basis. Research analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Analyst Ratings Changes

Several analysts recently commented on SAH shares. Citigroup started coverage on Sonic Automotive in a research report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target for the company. Needham & Company LLC dropped their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Benchmark initiated coverage on Sonic Automotive in a research note on Wednesday, May 28th. They set a "buy" rating and a $76.00 price objective on the stock. Finally, Bank of America boosted their price objective on Sonic Automotive from $80.00 to $94.00 and gave the stock a "buy" rating in a research note on Monday, June 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $74.71.

Insider Activity

In related news, President Jeff Dyke sold 576 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $70.02, for a total value of $40,331.52. Following the sale, the president owned 605,393 shares in the company, valued at approximately $42,389,617.86. The trade was a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 50,000 shares of company stock valued at $3,502,062. 42.65% of the stock is currently owned by insiders.

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.