Jeff Dyke Sells 31,152 Shares of Sonic Automotive, Inc. (NYSE:SAH) Stock

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) President Jeff Dyke sold 31,152 shares of Sonic Automotive stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $70.05, for a total transaction of $2,182,197.60. Following the transaction, the president now directly owns 605,969 shares of the company's stock, valued at approximately $42,448,128.45. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, May 29th, Jeff Dyke sold 1,838 shares of Sonic Automotive stock. The shares were 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 Stock Performance

Shares of SAH stock traded up $0.78 during trading hours on Friday, reaching $69.95. The company had a trading volume of 191,345 shares, compared to its average volume of 193,678. The business has a fifty day moving average price of $62.43 and a 200-day moving average price of $65.55. Sonic Automotive, Inc. has a one year low of $51.27 and a one year high of $76.78. The firm has a market cap of $2.38 billion, a PE ratio of 11.32 and a beta of 1.04. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09.

Sonic Automotive (NYSE:SAH - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The business's revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 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 Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.00%. Sonic Automotive's dividend payout ratio is presently 19.94%.

Wall Street Analyst Weigh In

SAH has been the subject of a number of recent research reports. Benchmark initiated coverage on shares of Sonic Automotive in a research report on Wednesday. They set a "buy" rating and a $76.00 price target for the company. Wall Street Zen upgraded shares of Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Needham & Company LLC reduced 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. Stephens raised their price objective 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. Finally, Citigroup began coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price objective for the company. Two investment 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 stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $70.71.

Institutional Trading of Sonic Automotive

A number of large investors have recently made changes to their positions in SAH. Smartleaf Asset Management LLC grew its position in Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after buying an additional 402 shares during the period. Canada Pension Plan Investment Board bought a new stake in Sonic Automotive during the fourth quarter valued at approximately $51,000. R Squared Ltd bought a new stake in Sonic Automotive during the fourth quarter valued at approximately $72,000. Quarry LP bought a new stake in Sonic Automotive during the first quarter valued at approximately $84,000. Finally, Aster Capital Management DIFC Ltd grew its position in Sonic Automotive by 1,429.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock valued at $98,000 after buying an additional 1,444 shares during the period. 46.92% of the stock is currently owned by institutional investors.

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.