JPMorgan Chase & Co. Raises Stake in Sonic Automotive, Inc. (NYSE:SAH)

JPMorgan Chase & Co. lifted its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 52.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 80,957 shares of the company's stock after purchasing an additional 27,726 shares during the period. JPMorgan Chase & Co. owned 0.24% of Sonic Automotive worth $5,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SAH. Barclays PLC increased its stake in shares of Sonic Automotive by 346.1% in the 3rd quarter. Barclays PLC now owns 24,413 shares of the company's stock valued at $1,427,000 after acquiring an additional 18,940 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company's stock valued at $98,658,000 after buying an additional 20,058 shares during the period. New York State Common Retirement Fund raised its stake in Sonic Automotive by 54.4% during the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company's stock worth $2,851,000 after buying an additional 15,849 shares during the period. SG Americas Securities LLC acquired a new position in Sonic Automotive in the fourth quarter valued at about $244,000. Finally, Franklin Resources Inc. raised its position in shares of Sonic Automotive by 6.7% during the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock worth $530,000 after purchasing an additional 609 shares during the period. Institutional investors and hedge funds own 46.92% of the company's stock.

Sonic Automotive Stock Performance

Shares of NYSE:SAH traded up $1.71 during trading on Thursday, hitting $60.74. 71,689 shares of the company were exchanged, compared to its average volume of 196,595. The company has a market cap of $2.05 billion, a PE ratio of 9.83 and a beta of 1.43. Sonic Automotive, Inc. has a 52-week low of $50.46 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. The stock has a 50 day moving average of $62.51 and a 200 day moving average of $64.09.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.13. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. As a group, equities research analysts predict that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were given a $0.35 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.30%. Sonic Automotive's dividend payout ratio is currently 22.65%.

Analyst Ratings Changes

Several analysts have issued reports on SAH shares. Needham & Company LLC dropped their price target on Sonic Automotive from $100.00 to $93.00 and set a "buy" rating on the stock in a research note on Wednesday, March 19th. Stephens raised 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. JPMorgan Chase & Co. reduced their target price on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Citigroup started coverage on Sonic Automotive in a research note on Wednesday. They set a "neutral" rating and a $64.00 target price on the stock. Finally, StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a report on Monday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $73.00.

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.