Mitsubishi UFJ Trust & Banking Corp. decreased its position in shares of Sonic Automotive, Inc. (NYSE:SAH – Get Rating) by 10.4% in the third quarter, HoldingsChannel reports. The firm owned 5,642 shares of the company’s stock after selling 657 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sonic Automotive were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of Sonic Automotive during the first quarter worth about $26,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Sonic Automotive during the second quarter worth about $97,000. EMC Capital Management lifted its holdings in shares of Sonic Automotive by 51.7% during the second quarter. EMC Capital Management now owns 4,044 shares of the company’s stock worth $148,000 after purchasing an additional 1,378 shares during the period. Pacific Global Investment Management Co. acquired a new stake in shares of Sonic Automotive during the third quarter worth about $204,000. Finally, Delphia USA Inc. raised its position in Sonic Automotive by 9.0% during the first quarter. Delphia USA Inc. now owns 5,085 shares of the company’s stock valued at $216,000 after acquiring an additional 422 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.
Sonic Automotive Stock Down 7.9 %
Sonic Automotive stock opened at $55.26 on Wednesday. The stock has a market capitalization of $2.17 billion, a PE ratio of 32.89 and a beta of 1.87. Sonic Automotive, Inc. has a 12 month low of $34.17 and a 12 month high of $62.26. The business has a 50-day simple moving average of $51.77 and a 200-day simple moving average of $49.71. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.02 and a quick ratio of 0.33.
Sonic Automotive (NYSE:SAH – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.35. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Sonic Automotive has a return on equity of 33.55% and a net margin of 0.62%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.66 earnings per share. On average, analysts anticipate that Sonic Automotive, Inc. will post 7.33 EPS for the current fiscal year.
Sonic Automotive Announces Dividends
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, March 14th. Sonic Automotive’s dividend payout ratio (DPR) is presently 66.67%.
Wall Street Analysts Forecast Growth
SAH has been the subject of several recent research reports. JPMorgan Chase & Co. cut Sonic Automotive from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $60.00 to $55.00 in a research report on Tuesday. Benchmark lifted their price target on Sonic Automotive from $62.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on Sonic Automotive from $35.00 to $33.00 and set an “underweight” rating for the company in a research report on Tuesday, January 17th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Sonic Automotive currently has an average rating of “Hold” and an average price target of $53.00.
Sonic Automotive Company Profile
Sonic Automotive, Inc. operates as an automotive retailer. Its services include sales of both new and used cars and light trucks, sales of replacement parts and performance of vehicle maintenance, warranty, paint and repair services and arrangement of extended service contracts, financing, insurance, vehicle protection products and other aftermarket products for automotive customers.
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