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

LSV Asset Management trimmed its position in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 42.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,100 shares of the company's stock after selling 83,300 shares during the quarter. LSV Asset Management owned approximately 0.34% of Sonic Automotive worth $6,470,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. increased its position in Sonic Automotive by 1,841.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 301,526 shares of the company's stock valued at $14,401,000 after purchasing an additional 285,999 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in Sonic Automotive by 705.8% during the third quarter. Schonfeld Strategic Advisors LLC now owns 67,086 shares of the company's stock valued at $3,204,000 after acquiring an additional 58,761 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Sonic Automotive during the 4th quarter worth about $1,770,000. Public Employees Retirement System of Ohio raised its position in shares of Sonic Automotive by 2,718.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 29,880 shares of the company's stock worth $1,427,000 after acquiring an additional 28,820 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Sonic Automotive by 4.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 381,211 shares of the company's stock valued at $18,207,000 after purchasing an additional 16,117 shares during the period. 46.92% of the stock is owned by institutional investors.

Sonic Automotive Stock Up 0.7 %

NYSE SAH traded up $0.43 on Thursday, reaching $58.47. The company had a trading volume of 338,089 shares, compared to its average volume of 226,817. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The stock has a market capitalization of $1.98 billion, a P/E ratio of 11.99 and a beta of 1.75. The company's fifty day moving average is $53.53 and its 200 day moving average is $52.81. Sonic Automotive, Inc. has a 52-week low of $39.02 and a 52-week high of $64.68.

Sonic Automotive (NYSE:SAH - Get Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.36 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.06. Sonic Automotive had a net margin of 1.21% and a return on equity of 27.46%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the firm earned $1.33 earnings per share. The firm's revenue was down 2.6% on a year-over-year basis. Sell-side analysts anticipate that Sonic Automotive, Inc. will post 5.77 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.20 annualized dividend and a yield of 2.05%. Sonic Automotive's payout ratio is currently 24.59%.

Insider Buying and Selling

In related news, CEO David Bruton Smith sold 3,861 shares of Sonic Automotive stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $61.43, for a total value of $237,181.23. Following the sale, the chief executive officer now owns 583,054 shares of the company's stock, valued at approximately $35,817,007.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 40.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SAH shares. JPMorgan Chase & Co. boosted their price target on Sonic Automotive from $48.00 to $53.00 and gave the company an "underweight" rating in a research note on Thursday, May 2nd. Morgan Stanley boosted their target price on Sonic Automotive from $35.00 to $40.00 and gave the company an "underweight" rating in a research report on Thursday, February 29th. StockNews.com lowered Sonic Automotive from a "buy" rating to a "hold" rating in a report on Thursday, January 11th. Bank of America upgraded Sonic Automotive from an "underperform" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $68.00 in a report on Friday, April 26th. Finally, TheStreet raised shares of Sonic Automotive from a "c+" rating to a "b" rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.60.

Sonic Automotive 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.