Caxton Associates LP decreased its position in Sonic Automotive, Inc. (NYSE:SAH - Free Report) by 54.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,358 shares of the company's stock after selling 5,115 shares during the period. Caxton Associates LP's holdings in Sonic Automotive were worth $276,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of SAH. Denali Advisors LLC grew its holdings in Sonic Automotive by 111.2% in the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company's stock valued at $5,518,000 after purchasing an additional 45,857 shares during the last quarter. HITE Hedge Asset Management LLC lifted its position in shares of Sonic Automotive by 105.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company's stock valued at $3,708,000 after acquiring an additional 30,002 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Sonic Automotive by 52.1% in the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company's stock valued at $5,129,000 after acquiring an additional 27,726 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in shares of Sonic Automotive in the fourth quarter valued at $1,341,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Sonic Automotive in the fourth quarter valued at $1,311,000. Institutional investors and hedge funds own 46.92% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Needham & Company LLC reduced their price objective on Sonic Automotive from $93.00 to $74.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target 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. Citigroup initiated coverage on Sonic Automotive in a report on Wednesday, April 23rd. They issued a "neutral" rating and a $64.00 price objective on the stock. Stephens lifted 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. Finally, StockNews.com raised Sonic Automotive from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Two investment 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. According to data from MarketBeat.com, Sonic Automotive currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.83.
Check Out Our Latest Stock Report on SAH
Sonic Automotive Stock Up 2.7%
Shares of SAH traded up $1.84 during trading on Tuesday, reaching $70.03. The company's stock had a trading volume of 57,072 shares, compared to its average volume of 192,558. The company has a fifty day moving average of $60.73 and a two-hundred day moving average of $64.87. Sonic Automotive, Inc. has a twelve month low of $51.27 and a twelve month high of $76.78. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 11.33 and a beta of 1.04. 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 released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm earned $1.36 earnings per share. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts predict that Sonic Automotive, Inc. will post 6.14 EPS 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. Shareholders of record on Friday, June 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Sonic Automotive's dividend payout ratio is presently 19.94%.
Sonic Automotive Company Profile
(
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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