ProShare Advisors LLC Acquires 17,286 Shares of Sonic Automotive, Inc. $SAH

ProShare Advisors LLC increased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,898 shares of the company’s stock after buying an additional 17,286 shares during the period. ProShare Advisors LLC’s holdings in Sonic Automotive were worth $5,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SAH. Goldman Sachs Group Inc. boosted its holdings in Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock worth $20,239,000 after buying an additional 197,336 shares during the period. Qube Research & Technologies Ltd bought a new position in Sonic Automotive in the 3rd quarter worth approximately $7,450,000. Vanguard Group Inc. boosted its holdings in Sonic Automotive by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock worth $125,278,000 after buying an additional 96,836 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Sonic Automotive by 546.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 86,370 shares of the company’s stock worth $6,572,000 after buying an additional 73,002 shares during the period. Finally, Millennium Management LLC boosted its holdings in Sonic Automotive by 20.5% in the 3rd quarter. Millennium Management LLC now owns 383,117 shares of the company’s stock worth $29,151,000 after buying an additional 65,266 shares during the period. 46.92% of the stock is owned by institutional investors.

Sonic Automotive Stock Up 2.8%

Shares of NYSE:SAH opened at $78.02 on Friday. The firm has a fifty day moving average price of $69.63 and a two-hundred day moving average price of $65.11. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.03 and a quick ratio of 0.29. Sonic Automotive, Inc. has a one year low of $54.11 and a one year high of $89.62. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 1.61 and a beta of 0.89.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.40 by $0.22. Sonic Automotive had a net margin of 0.72% and a return on equity of 22.45%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm earned $1.48 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts anticipate that Sonic Automotive, Inc. will post 6.8 EPS for the current fiscal year.

Sonic Automotive Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.38. Sonic Automotive’s payout ratio is 48.41%.

Wall Street Analyst Weigh In

SAH has been the subject of several analyst reports. Morgan Stanley set a $72.00 price objective on shares of Sonic Automotive in a report on Thursday, May 7th. Bank of America initiated coverage on shares of Sonic Automotive in a report on Wednesday, March 4th. They issued a “neutral” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Sonic Automotive in a report on Tuesday, March 31st. Citigroup raised their price objective on shares of Sonic Automotive from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Sonic Automotive in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sonic Automotive currently has an average rating of “Hold” and a consensus target price of $82.13.

About Sonic Automotive

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.