Point72 Asia Singapore Pte. Ltd. Trims Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Point72 Asia Singapore Pte. Ltd. trimmed its position in Sonic Automotive, Inc. (NYSE:SAH) by 56.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 520 shares of the company’s stock after selling 676 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Sonic Automotive were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SAH. Vanguard Group Inc. lifted its holdings in shares of Sonic Automotive by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock worth $98,658,000 after acquiring an additional 20,058 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Sonic Automotive by 52.1% during the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock worth $5,129,000 after acquiring an additional 27,726 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Sonic Automotive by 54.4% during the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock worth $2,851,000 after acquiring an additional 15,849 shares during the period. Northern Trust Corp lifted its holdings in shares of Sonic Automotive by 6.7% during the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company’s stock worth $18,443,000 after acquiring an additional 18,232 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Sonic Automotive during the 4th quarter worth about $244,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Stock Down 0.4%

Shares of NYSE:SAH opened at $69.04 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. Sonic Automotive, Inc. has a 52-week low of $51.27 and a 52-week high of $76.78. The company has a 50 day moving average of $61.05 and a two-hundred day moving average of $65.25. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 11.17 and a beta of 1.04.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the company earned $1.36 earnings per share. Sonic Automotive’s revenue for the quarter was up 7.9% on a year-over-year basis. As a group, analysts forecast that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, June 13th. Sonic Automotive’s dividend payout ratio (DPR) is 19.94%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SAH. Citigroup began coverage on shares of Sonic Automotive in a report on Wednesday, April 23rd. They set a “neutral” rating and a $64.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Finally, Stephens lifted their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.83.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. 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 for its guests.