LSV Asset Management Lowers Stock Position in Sonic Automotive, Inc. (NYSE:SAH)

LSV Asset Management reduced its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 44.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,700 shares of the company's stock after selling 4,600 shares during the quarter. LSV Asset Management's holdings in Sonic Automotive were worth $361,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC increased its stake in 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 buying an additional 18,940 shares during the period. Franklin Resources Inc. lifted its stake in shares of Sonic Automotive by 6.7% in the third quarter. Franklin Resources Inc. now owns 9,643 shares of the company's stock valued at $530,000 after buying an additional 609 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company's stock worth $3,113,000 after acquiring an additional 21,650 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Sonic Automotive by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 56,361 shares of the company's stock valued at $3,570,000 after purchasing an additional 978 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Sonic Automotive in the 4th quarter worth about $244,000. Institutional investors own 46.92% of the company's stock.

Sonic Automotive Stock Performance

Shares of NYSE:SAH traded down $0.96 during trading on Monday, hitting $57.78. The company's stock had a trading volume of 8,254 shares, compared to its average volume of 196,107. Sonic Automotive, Inc. has a 12 month low of $48.61 and a 12 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. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 9.34 and a beta of 1.43. The company has a 50-day moving average of $63.35 and a 200-day moving average of $64.15.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, sell-side analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current year.

Sonic Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend was Friday, March 14th. Sonic Automotive's payout ratio is 22.65%.

Analyst Ratings Changes

A number of brokerages have issued reports on SAH. Needham & Company LLC reduced their price objective on shares of 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 increased their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, StockNews.com downgraded shares of Sonic Automotive from a "buy" rating to a "hold" rating in a research note on Monday, March 24th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $74.80.

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.