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 the firm's 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 transaction, the president now directly owns 605,393 shares in the company, valued at approximately $42,389,617.86. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 shares were sold at an average price of $70.03, for a total transaction of $1,150,873.02.

Sonic Automotive Trading Up 1.8%

Shares of NYSE:SAH traded up $1.27 during mid-day trading on Thursday, hitting $71.77. The company had a trading volume of 72,612 shares, compared to its average volume of 193,622. The firm has a fifty day moving average price of $63.19 and a 200 day moving average price of $65.67. The company has a market capitalization of $2.44 billion, a PE ratio of 11.61 and a beta of 1.04. 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, Inc. has a one year low of $51.27 and a one year high of $76.78.

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 for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. Sonic Automotive's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.36 EPS. As a group, 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. Shareholders of record on Friday, June 13th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.95%. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SAH. Benchmark began coverage on shares of Sonic Automotive in a research note on Wednesday, May 28th. They issued a "buy" rating and a $76.00 price target on the stock. Stephens raised their price target 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. 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 report on Thursday, April 24th. Wall Street Zen raised shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, Citigroup started coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price target on the stock. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $70.71.

Institutional Trading of Sonic Automotive

Hedge funds and other institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC increased its stake in Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Sonic Automotive during the 4th quarter valued at $51,000. Quarry LP bought a new stake in Sonic Automotive during the 1st quarter valued at $84,000. Aster Capital Management DIFC Ltd increased its stake in Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock valued at $98,000 after purchasing an additional 1,444 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Sonic Automotive during the 4th quarter valued at $185,000. Institutional investors own 46.92% of the company's stock.

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.