Universal Beteiligungs und Servicegesellschaft mbH Buys New Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 34,066 shares of the company's stock, valued at approximately $1,940,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.10% of Sonic Automotive at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 worth $530,000 after acquiring an additional 380 shares during the period. American Century Companies Inc. grew its stake in shares of 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 during the period. MetLife Investment Management LLC increased its holdings in shares of Sonic Automotive by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 9,104 shares of the company's stock valued at $577,000 after purchasing an additional 731 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Sonic Automotive in the 4th quarter valued at about $51,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Sonic Automotive by 7.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,349 shares of the company's stock valued at $910,000 after purchasing an additional 973 shares during the period. Institutional investors and hedge funds own 46.92% of the company's stock.

Insiders Place Their Bets

In other Sonic Automotive news, President Jeff Dyke sold 31,152 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $70.05, for a total transaction of $2,182,197.60. Following the transaction, the president directly owned 605,969 shares in the company, valued at $42,448,128.45. This trade represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 50,000 shares of company stock worth $3,502,062 over the last quarter. 42.65% of the stock is currently owned by insiders.

Sonic Automotive Stock Performance

NYSE SAH traded down $0.83 during trading hours on Friday, hitting $71.52. The company had a trading volume of 291,821 shares, compared to its average volume of 275,362. The company has a quick ratio of 0.24, a current ratio of 1.03 and a debt-to-equity ratio of 1.78. The firm has a market cap of $2.43 billion, a P/E ratio of 15.89 and a beta of 0.99. Sonic Automotive, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $89.62. The business has a fifty day simple moving average of $78.00 and a 200-day simple moving average of $69.76.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $1.63 by $0.56. The firm had revenue of $3.66 billion during the quarter, compared to analysts' expectations of $3.66 billion. Sonic Automotive had a net margin of 1.07% and a return on equity of 21.40%. Sonic Automotive's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 EPS. Equities analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.38 per share. This is a positive change from Sonic Automotive's previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Monday, September 15th. Sonic Automotive's dividend payout ratio is presently 31.11%.

Analyst Ratings Changes

SAH has been the topic of several recent research reports. Stephens lowered shares of Sonic Automotive from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $72.00 to $82.00 in a research report on Thursday, July 17th. Benchmark upped their price target on shares of Sonic Automotive from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, July 25th. Needham & Company LLC boosted their target price on shares of Sonic Automotive from $74.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Citigroup assumed coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target on the stock. Finally, Wall Street Zen cut Sonic Automotive from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.86.

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.