7,523 Shares in Sonic Automotive, Inc. (NYSE:SAH) Bought by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP bought a new stake in Sonic Automotive, Inc. (NYSE:SAH) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 7,523 shares of the company’s stock, valued at approximately $477,000.

Other large investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in Sonic Automotive by 515.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock worth $30,000 after buying an additional 402 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Sonic Automotive during the fourth quarter worth about $51,000. R Squared Ltd acquired a new position in shares of Sonic Automotive during the fourth quarter valued at about $72,000. Aster Capital Management DIFC Ltd raised its position in shares of Sonic Automotive by 1,429.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after purchasing an additional 1,444 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in Sonic Automotive during the 4th quarter worth approximately $185,000. 46.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $64.90 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35. The firm’s 50 day simple moving average is $60.71 and its 200-day simple moving average is $64.68. Sonic Automotive, Inc. has a 12 month low of $51.27 and a 12 month high of $76.78. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 10.50 and a beta of 1.04.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Friday, June 13th. Sonic Automotive’s dividend payout ratio (DPR) is presently 19.94%.

Sonic Automotive 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.