Ceredex Value Advisors LLC cut its stake in shares of Sonic Automotive Inc (NYSE:SAH) by 17.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,659,497 shares of the company’s stock after selling 356,458 shares during the quarter. Ceredex Value Advisors LLC owned approximately 3.88% of Sonic Automotive worth $32,225,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Brown Advisory Inc. bought a new position in Sonic Automotive in the 2nd quarter worth approximately $796,000. BlackRock Inc. grew its holdings in Sonic Automotive by 7.6% in the 2nd quarter. BlackRock Inc. now owns 4,006,284 shares of the company’s stock worth $82,530,000 after buying an additional 283,665 shares in the last quarter. Towle & Co. grew its holdings in Sonic Automotive by 0.7% in the 3rd quarter. Towle & Co. now owns 1,185,918 shares of the company’s stock worth $22,948,000 after buying an additional 8,080 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Sonic Automotive in the 2nd quarter worth approximately $116,000. Finally, Globeflex Capital L P grew its holdings in Sonic Automotive by 14.6% in the 2nd quarter. Globeflex Capital L P now owns 40,146 shares of the company’s stock worth $827,000 after buying an additional 5,103 shares in the last quarter. 63.53% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on SAH. ValuEngine lowered Sonic Automotive from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research raised Sonic Automotive from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday, October 16th. Morgan Stanley decreased their price objective on Sonic Automotive from $19.00 to $16.00 and set a “sell” rating for the company in a report on Wednesday, August 15th. Finally, Stephens reissued a “hold” rating and issued a $19.00 price objective on shares of Sonic Automotive in a report on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.40.

SAH opened at $17.79 on Wednesday. The company has a market capitalization of $765.22 million, a price-to-earnings ratio of 9.62, a PEG ratio of 4.00 and a beta of 1.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.03 and a quick ratio of 0.21. Sonic Automotive Inc has a 1-year low of $16.75 and a 1-year high of $23.60.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, October 25th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.59 billion. Sonic Automotive had a return on equity of 10.27% and a net margin of 0.91%. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, analysts predict that Sonic Automotive Inc will post 1.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, December 14th will be given a $0.06 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.35%. Sonic Automotive’s dividend payout ratio (DPR) is 12.97%.

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Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and Pre-Owned Stores. 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.

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Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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