Point72 Asset Management L.P. Has $567,000 Stake in Sonic Automotive, Inc. (NYSE:SAH)

Point72 Asset Management L.P. lowered its position in Sonic Automotive, Inc. (NYSE:SAH) by 21.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,954 shares of the company’s stock after selling 2,446 shares during the quarter. Point72 Asset Management L.P.’s holdings in Sonic Automotive were worth $567,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SAH. Denali Advisors LLC lifted its stake in Sonic Automotive by 111.2% in the fourth quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock valued at $5,518,000 after acquiring an additional 45,857 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in Sonic Automotive by 105.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 58,526 shares of the company’s stock valued at $3,708,000 after acquiring an additional 30,002 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Sonic Automotive by 52.1% in the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock valued at $5,129,000 after acquiring an additional 27,726 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in Sonic Automotive in the fourth quarter valued at $1,341,000. Finally, New Age Alpha Advisors LLC acquired a new stake in Sonic Automotive in the fourth quarter valued at $1,311,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Analysts Set New Price Targets

SAH has been the subject of a number of recent analyst reports. Stephens increased their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Wall Street Zen upgraded shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Citigroup assumed coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 price objective on the stock. Needham & Company LLC dropped their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.83.

Sonic Automotive Price Performance

Shares of SAH opened at $67.24 on Friday. The firm has a market capitalization of $2.28 billion, a PE ratio of 10.88 and a beta of 1.04. The company’s 50-day moving average is $61.53 and its 200-day moving average is $65.35. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.09 and a quick ratio of 0.35.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping 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 business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period last year, the firm earned $1.36 earnings per share. Sonic Automotive’s revenue for the quarter was up 7.9% compared to the same quarter last year. Equities analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, June 13th. Sonic Automotive’s dividend payout ratio is 19.94%.

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.