Two Sigma Advisers LP Reduces Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Two Sigma Advisers LP lowered its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,400 shares of the company's stock after selling 20,700 shares during the period. Two Sigma Advisers LP owned about 0.10% of Sonic Automotive worth $2,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pacific Global Investment Management Co. lifted its stake in Sonic Automotive by 4.1% in the 4th quarter. Pacific Global Investment Management Co. now owns 4,554 shares of the company's stock valued at $288,000 after buying an additional 179 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of Sonic Automotive by 0.8% in the fourth quarter. New York State Teachers Retirement System now owns 25,935 shares of the company's stock valued at $1,643,000 after acquiring an additional 212 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sonic Automotive by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,370 shares of the company's stock valued at $530,000 after acquiring an additional 380 shares during the last quarter. American Century Companies Inc. increased its position in Sonic Automotive by 1.9% during the 4th quarter. American Century Companies Inc. now owns 20,596 shares of the company's stock worth $1,305,000 after purchasing an additional 390 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 46.92% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SAH shares. JPMorgan Chase & Co. decreased their price target 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. Stephens raised their target price 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. Needham & Company LLC cut their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup started coverage on Sonic Automotive in a report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price objective on the stock. Finally, Wall Street Zen raised Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Sonic Automotive has a consensus rating of "Buy" and a consensus target price of $70.71.

Sonic Automotive Trading Up 1.1%

NYSE:SAH traded up $0.78 during trading hours on Friday, reaching $69.95. 191,345 shares of the company were exchanged, compared to its average volume of 193,483. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 11.32 and a beta of 1.04. The stock has a 50 day simple moving average of $62.43 and a 200 day simple moving average of $65.55. Sonic Automotive, Inc. has a 52-week low of $51.27 and a 52-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.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the company posted $1.36 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, analysts predict 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. Investors 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 annualized dividend and a yield of 2.00%. Sonic Automotive's payout ratio is 19.94%.

Insider Buying and Selling at Sonic Automotive

In related news, President Jeff Dyke sold 16,434 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $70.03, for a total value of $1,150,873.02. Following the completion of the sale, the president now directly owns 638,959 shares in the company, valued at approximately $44,746,298.77. This represents a 2.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 49,424 shares of company stock valued at $3,461,731 over the last ninety days. Corporate insiders own 42.65% of the company's stock.

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.