Metropolitan Life Insurance Co. NY boosted its holdings in shares of Sonic Automotive Inc (NYSE:SAH) by 436.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,786 shares of the company’s stock after buying an additional 7,148 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Sonic Automotive were worth $121,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of SAH. BlackRock Inc. increased its position in Sonic Automotive by 4.7% during the fourth 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 increased its position in Sonic Automotive by 15.4% during the fourth 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. Morgan Stanley increased its position in Sonic Automotive by 24.7% during the third 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. Vanguard Group Inc increased its position in Sonic Automotive by 1.9% during the third 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. Finally, Vanguard Group Inc. increased its position in Sonic Automotive by 1.9% during the third 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. 60.51% of the stock is currently owned by hedge funds and other institutional investors.
SAH stock opened at $15.67 on Friday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.02 and a quick ratio of 0.24. Sonic Automotive Inc has a 52-week low of $12.78 and a 52-week high of $23.60. The stock has a market cap of $672.95 million, a price-to-earnings ratio of 8.85, a PEG ratio of 1.45 and a beta of 1.47.
Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Wednesday, February 20th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.17). Sonic Automotive had a net margin of 0.52% and a return on equity of 9.66%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Sonic Automotive Inc will post 1.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.55%. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Thursday, March 14th. Sonic Automotive’s dividend payout ratio is 22.60%.
Several equities analysts have commented on SAH shares. Zacks Investment Research downgraded shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. ValuEngine raised shares of Sonic Automotive from a “strong sell” rating to a “sell” rating in a research report on Monday, April 1st. Finally, JPMorgan Chase & Co. started coverage on shares of Sonic Automotive in a research report on Tuesday, February 19th. They set an “underweight” rating and a $14.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company has an average rating of “Sell” and an average target price of $17.20.
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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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