Sonic Automotive (NYSE:SAH) President Sells $1,267,245.18 in Stock

Sonic Automotive, Inc. (NYSE:SAH) President Jeff Dyke sold 14,886 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $85.13, for a total value of $1,267,245.18. Following the sale, the president owned 578,782 shares of the company’s stock, valued at approximately $49,271,711.66. The trade was a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeff Dyke also recently made the following trade(s):

• On Wednesday, June 10th, Jeff Dyke sold 35,114 shares of Sonic Automotive stock. The stock was sold at an average price of $85.22, for a total value of $2,992,415.08.
• On Monday, June 8th, Jeff Dyke sold 50,000 shares of Sonic Automotive stock. The stock was sold at an average price of $82.97, for a total value of $4,148,500.00.

Sonic Automotive Trading Up 0.5%

SAH opened at $84.63 on Friday. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 1.93 and a beta of 0.88. Sonic Automotive, Inc. has a 52 week low of $54.11 and a 52 week high of $89.62. The business’s 50 day moving average is $75.58 and its two-hundred day moving average is $67.33. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 1.93.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.40 by $0.22. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.73 billion. Sonic Automotive had a return on equity of 22.45% and a net margin of 0.72%.The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, research analysts predict that Sonic Automotive, Inc. will post 6.92 EPS for the current 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 given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.9%. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, June 15th. Sonic Automotive’s dividend payout ratio is presently 48.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Zacks Research raised Sonic Automotive from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. UBS Group assumed coverage on Sonic Automotive in a research report on Wednesday, May 27th. They set a “buy” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Sonic Automotive from $67.00 to $77.00 and gave the stock an “underweight” rating in a research report on Thursday, May 7th. Citigroup lifted their price target on Sonic Automotive from $82.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Stephens cut their price target on Sonic Automotive from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $83.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SAH. Goldman Sachs Group Inc. increased its holdings in shares of Sonic Automotive by 124.9% in the first quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock valued at $20,239,000 after purchasing an additional 197,336 shares during the period. Heartland Advisors Inc. acquired a new position in shares of Sonic Automotive in the first quarter valued at approximately $8,450,000. Bridgeway Capital Management LLC acquired a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $7,384,000. Qube Research & Technologies Ltd acquired a new position in shares of Sonic Automotive in the third quarter valued at approximately $7,450,000. Finally, Vanguard Group Inc. increased its holdings in shares of Sonic Automotive by 6.2% in the third quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock valued at $125,278,000 after purchasing an additional 96,836 shares during the period. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Company Profile

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.