Sonic Automotive, Inc. (SAH) Shares Sold by New York State Common Retirement Fund
New York State Common Retirement Fund lowered its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 0.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,000 shares of the company’s stock after selling 1 shares during the period. New York State Common Retirement Fund owned about 0.06% of Sonic Automotive worth $545,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Thrivent Financial For Lutherans boosted its position in Sonic Automotive by 5.9% in the second quarter. Thrivent Financial For Lutherans now owns 15,850 shares of the company’s stock worth $308,000 after purchasing an additional 890 shares during the last quarter. Laurion Capital Management LP purchased a new position in Sonic Automotive in the second quarter worth $203,000. Ameriprise Financial Inc. boosted its position in Sonic Automotive by 1.9% in the second quarter. Ameriprise Financial Inc. now owns 154,171 shares of the company’s stock worth $3,000,000 after purchasing an additional 2,935 shares during the last quarter. South Dakota Investment Council boosted its position in Sonic Automotive by 33.1% in the second quarter. South Dakota Investment Council now owns 43,390 shares of the company’s stock worth $844,000 after purchasing an additional 10,790 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Sonic Automotive by 53.9% in the second quarter. JPMorgan Chase & Co. now owns 48,453 shares of the company’s stock worth $943,000 after purchasing an additional 16,969 shares during the last quarter. 63.71% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Heath Byrd sold 11,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $20.43, for a total transaction of $224,730.00. Following the sale, the chief financial officer now directly owns 143,306 shares in the company, valued at approximately $2,927,741.58. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Jeff Dyke sold 8,551 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $20.10, for a total value of $171,875.10. Following the sale, the executive vice president now owns 1,262,056 shares in the company, valued at $25,367,325.60. The disclosure for this sale can be found here. 30.29% of the stock is owned by corporate insiders.
Several research analysts have weighed in on the company. BidaskClub cut Sonic Automotive from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. ValuEngine cut Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, October 18th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Sonic Automotive in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.67.
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Sonic Automotive, Inc. (SAH) opened at $19.80 on Friday. Sonic Automotive, Inc. has a 1 year low of $15.95 and a 1 year high of $27.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. The company has a market capitalization of $855.26, a price-to-earnings ratio of 11.72, a PEG ratio of 3.63 and a beta of 1.54.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Sonic Automotive had a return on equity of 10.47% and a net margin of 0.70%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. sell-side analysts forecast that Sonic Automotive, Inc. will post 1.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.01%. Sonic Automotive’s dividend payout ratio is presently 13.07%.
About Sonic Automotive
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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