LSV Asset Management decreased its position in Sonic Automotive Inc (NYSE:SAH) by 3.7% in the first quarter, Holdings Channel reports. The institutional investor owned 1,954,860 shares of the company’s stock after selling 75,011 shares during the quarter. LSV Asset Management’s holdings in Sonic Automotive were worth $28,951,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SAH. BlackRock Inc. lifted its position in Sonic Automotive by 4.7% in the 4th quarter. BlackRock Inc. now owns 4,261,659 shares of the company’s stock worth $58,641,000 after buying an additional 189,881 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Sonic Automotive by 15.4% in the 4th quarter. Bank of New York Mellon Corp now owns 481,974 shares of the company’s stock worth $6,632,000 after buying an additional 64,186 shares during the last quarter. Norges Bank bought a new stake in Sonic Automotive in the 4th quarter worth approximately $809,000. Morgan Stanley lifted its position in Sonic Automotive by 24.7% in the 3rd quarter. Morgan Stanley now owns 259,545 shares of the company’s stock worth $5,022,000 after buying an additional 51,402 shares during the last quarter. Finally, Vanguard Group Inc lifted its position in Sonic Automotive by 1.9% in the 3rd quarter. Vanguard Group Inc now owns 2,338,677 shares of the company’s stock worth $45,253,000 after buying an additional 44,150 shares during the last quarter. Institutional investors own 59.31% of the company’s stock.
Shares of SAH stock opened at $18.71 on Thursday. The company has a quick ratio of 0.25, a current ratio of 1.03 and a debt-to-equity ratio of 1.03. Sonic Automotive Inc has a fifty-two week low of $12.78 and a fifty-two week high of $23.60. The company has a market capitalization of $826.71 million, a price-to-earnings ratio of 10.57, a P/E/G ratio of 3.16 and a beta of 1.63.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.10 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.40 annualized dividend and a yield of 2.14%. Sonic Automotive’s payout ratio is currently 22.60%.
SAH has been the subject of a number of recent research reports. Bank of America upgraded Sonic Automotive from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Friday, April 26th. Zacks Investment Research downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine upgraded Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Thursday, April 25th. Morgan Stanley boosted their price objective on Sonic Automotive from $10.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. started coverage on Sonic Automotive in a research report on Tuesday, February 19th. They issued an “underweight” rating and a $14.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Sonic Automotive presently has an average rating of “Hold” and a consensus target price of $18.50.
Sonic Automotive Profile
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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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