Towle & Co. Sells 59,490 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Towle & Co. lowered its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,309 shares of the company's stock after selling 59,490 shares during the period. Sonic Automotive comprises 3.4% of Towle & Co.'s portfolio, making the stock its 5th largest holding. Towle & Co. owned approximately 0.92% of Sonic Automotive worth $19,848,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake 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 in the last quarter. JPMorgan Chase & Co. boosted its stake 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 in the last quarter. New York State Common Retirement Fund boosted its stake in shares of 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 valued at $2,851,000 after purchasing an additional 15,849 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Sonic Automotive in the 4th quarter valued at $244,000. Finally, Northern Trust Corp boosted its stake in shares of 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 purchasing an additional 18,232 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Stock Up 0.7%

Shares of NYSE SAH opened at $69.28 on Monday. The firm's 50-day simple moving average is $60.95 and its 200 day simple moving average is $65.16. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 11.21 and a beta of 1.04. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a 12-month low of $51.27 and a 12-month high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued 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 business had revenue of $3.65 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 EPS. On average, research analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SAH shares. Needham & Company LLC reduced their target price 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. JPMorgan Chase & Co. reduced 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 note on Thursday, March 27th. Citigroup started coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 target price on the stock. Stephens boosted their target price on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Sonic Automotive has an average rating of "Moderate Buy" and an average price target of $69.83.

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.

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