Sonic Automotive, Inc. (NYSE:SAH) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets increased its holdings in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,563 shares of the company's stock after buying an additional 5,746 shares during the period. BNP Paribas Financial Markets owned about 0.24% of Sonic Automotive worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SAH. Smartleaf Asset Management LLC lifted 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 valued at $30,000 after purchasing an additional 402 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Sonic Automotive in the 4th quarter valued at $51,000. R Squared Ltd purchased a new position in Sonic Automotive in the 4th quarter valued at $72,000. Aster Capital Management DIFC Ltd lifted 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 valued at $98,000 after purchasing an additional 1,444 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Sonic Automotive in the 4th quarter valued at $185,000. Hedge funds and other institutional investors own 46.92% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Citigroup assumed coverage on Sonic Automotive in a report on Wednesday, April 23rd. They set a "neutral" rating and a $64.00 price target on the stock. Needham & Company LLC reduced their price target on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. StockNews.com upgraded Sonic Automotive from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Finally, Stephens lifted their price target on Sonic Automotive from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $69.83.

Sonic Automotive Trading Down 0.4%

Shares of NYSE:SAH traded down $0.27 during midday trading on Monday, reaching $69.04. 131,759 shares of the company's stock were exchanged, compared to its average volume of 192,278. The firm's 50 day simple moving average is $61.05 and its two-hundred day simple moving average is $65.25. 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 market cap of $2.34 billion, a price-to-earnings ratio of 11.17 and a beta of 1.04. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78.

Sonic Automotive (NYSE:SAH - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.46 by $0.02. The firm had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.47 billion. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. The company's quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the company earned $1.36 EPS. As a group, sell-side analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive's payout ratio is 19.94%.

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.