Jeff Dyke Sells 576 Shares of Sonic Automotive, Inc. (NYSE:SAH) Stock

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) President Jeff Dyke sold 576 shares of Sonic Automotive stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $70.02, for a total transaction of $40,331.52. Following the sale, the president now directly owns 605,393 shares of the company's stock, valued at $42,389,617.86. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Jeff Dyke also recently made the following trade(s):

• On Friday, May 30th, Jeff Dyke sold 31,152 shares of Sonic Automotive stock. The stock was sold at an average price of $70.05, for a total transaction of $2,182,197.60.
• On Thursday, May 29th, Jeff Dyke sold 1,838 shares of Sonic Automotive stock. The stock was sold at an average price of $70.00, for a total transaction of $128,660.00.
• On Wednesday, May 28th, Jeff Dyke sold 16,434 shares of Sonic Automotive stock. The stock was sold at an average price of $70.03, for a total transaction of $1,150,873.02.

Sonic Automotive Price Performance

SAH stock traded up $1.56 during trading on Friday, reaching $73.09. 202,849 shares of the company were exchanged, compared to its average volume of 194,336. The company has a 50-day moving average of $63.79 and a two-hundred day moving average of $65.80. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.83 and a beta of 1.02. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month 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 released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The business had revenue of $3.65 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 EPS. As a group, equities analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio is 19.94%.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in Sonic Automotive by 263.4% during the 1st quarter. Jane Street Group LLC now owns 62,908 shares of the company's stock worth $3,583,000 after purchasing an additional 45,596 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Sonic Automotive by 15.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 38,698 shares of the company's stock valued at $2,204,000 after acquiring an additional 5,286 shares during the period. Aristeia Capital L.L.C. acquired a new position in Sonic Automotive in the 1st quarter valued at approximately $238,000. Caxton Associates LLP acquired a new position in Sonic Automotive in the 1st quarter valued at approximately $639,000. Finally, Goldman Sachs Group Inc. increased its position in Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company's stock valued at $20,239,000 after acquiring an additional 197,336 shares during the period. 46.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SAH shares. Needham & Company LLC dropped their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 24th. 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 report on Thursday, February 13th. Benchmark began coverage on shares of Sonic Automotive in a research report on Wednesday, May 28th. They issued a "buy" rating and a $76.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Sonic Automotive presently has an average rating of "Buy" and an average price target 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.