Sonic Automotive, Inc. (NYSE:SAH) President Sells $1,150,873.02 in Stock

Sonic Automotive, Inc. (NYSE:SAH - Get Free Report) President Jeff Dyke sold 16,434 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $70.03, for a total value of $1,150,873.02. Following the completion of the transaction, the president now owns 638,959 shares in the company, valued at approximately $44,746,298.77. This trade represents a 2.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, June 2nd, Jeff Dyke sold 576 shares of Sonic Automotive stock. The stock was sold at an average price of $70.02, for a total value of $40,331.52.
• 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 value 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 value of $128,660.00.

Sonic Automotive Stock Performance

Shares of NYSE:SAH traded up $0.23 during trading on Tuesday, hitting $70.90. 193,190 shares of the company traded hands, compared to its average volume of 193,965. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 11.47 and a beta of 1.04. The business's fifty day moving average is $62.60 and its 200-day moving average is $65.60. Sonic Automotive, Inc. has a one year low of $51.27 and a one year high of $76.78. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS 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 return on equity of 19.96% and a net margin of 1.52%. The business's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 earnings per share. As a group, equities analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's dividend payout ratio (DPR) is presently 19.94%.

Hedge Funds Weigh In On Sonic Automotive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAH. Smartleaf Asset Management LLC grew its holdings in Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock worth $30,000 after buying an additional 402 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in Sonic Automotive in the 4th quarter worth approximately $51,000. R Squared Ltd bought a new position in Sonic Automotive in the 4th quarter worth approximately $72,000. Quarry LP bought a new position in Sonic Automotive in the 1st quarter worth approximately $84,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company's stock worth $98,000 after buying an additional 1,444 shares in the last quarter. 46.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SAH shares. Citigroup started coverage on Sonic Automotive in a research note on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price objective on the stock. Needham & Company LLC cut their price objective on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Stephens upped their price objective on 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. cut their price objective on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, Wall Street Zen upgraded Sonic Automotive from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 24th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Sonic Automotive has a consensus rating of "Buy" and an average price target of $70.71.

Sonic Automotive Company 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.