Northern Trust Corp raised its stake in shares of Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 291,133 shares of the company's stock after acquiring an additional 18,232 shares during the period. Northern Trust Corp owned approximately 0.85% of Sonic Automotive worth $18,443,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company's stock valued at $30,000 after acquiring an additional 402 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Sonic Automotive in the 4th quarter worth approximately $51,000. R Squared Ltd bought a new position in shares of Sonic Automotive in the 4th quarter worth approximately $72,000. Aster Capital Management DIFC Ltd lifted its stake in shares of 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 purchasing an additional 1,444 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Sonic Automotive in the 4th quarter worth approximately $185,000. Institutional investors own 46.92% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Needham & Company LLC decreased their target price on shares of 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 raised their target price 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. Finally, StockNews.com upgraded shares of Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sonic Automotive presently has an average rating of "Moderate Buy" and an average price target of $69.83.
View Our Latest Analysis on Sonic Automotive
Sonic Automotive Price Performance
SAH traded up $0.49 during trading hours on Friday, hitting $69.28. The company's stock had a trading volume of 98,496 shares, compared to its average volume of 192,184. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The business's 50-day moving average price is $60.95 and its 200-day moving average price is $65.06. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 11.21 and a beta of 1.04. Sonic Automotive, Inc. has a 12 month low of $51.27 and a 12 month high of $76.78.
Sonic Automotive (NYSE:SAH - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.02. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The business's revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.36 earnings per share. Sell-side analysts expect that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.
Sonic Automotive Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.35 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.40 dividend on an annualized basis and a yield of 2.02%. Sonic Automotive's dividend payout ratio is presently 19.94%.
Sonic Automotive Company Profile
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Free Report)
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.
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