Sonic Automotive, Inc. (NYSE:SAH) Shares Sold by Towle & Co.

Towle & Co. lowered its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 16.0% in the fourth quarter, Holdings Channel reports. The firm owned 313,309 shares of the company’s stock after selling 59,490 shares during the period. Sonic Automotive accounts for 3.4% of Towle & Co.’s investment portfolio, making the stock its 5th biggest holding. Towle & Co.’s holdings in Sonic Automotive were worth $19,848,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Sonic Automotive by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock valued at $98,658,000 after purchasing an additional 20,058 shares during the period. JPMorgan Chase & Co. grew its holdings in Sonic Automotive by 52.1% during the fourth quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock valued at $5,129,000 after purchasing an additional 27,726 shares during the period. New York State Common Retirement Fund grew its holdings in Sonic Automotive by 54.4% during the fourth quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock valued at $2,851,000 after purchasing an additional 15,849 shares during the period. SG Americas Securities LLC bought a new position in Sonic Automotive in the fourth quarter valued at approximately $244,000. Finally, Northern Trust Corp lifted its stake in Sonic Automotive by 6.7% in the fourth quarter. Northern Trust Corp now owns 291,133 shares of the company’s stock valued at $18,443,000 after buying an additional 18,232 shares in the last quarter. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Stock Performance

Shares of SAH opened at $69.28 on Monday. Sonic Automotive, Inc. has a 12 month low of $51.27 and a 12 month high of $76.78. The firm has a fifty day simple moving average of $60.95 and a 200 day simple moving average of $65.16. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.21 and a beta of 1.04. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping 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 business had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the prior year, the company posted $1.36 earnings per share. The firm’s revenue was up 7.9% on a year-over-year basis. Research analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, June 13th. Sonic Automotive’s payout ratio is 19.94%.

Analyst Ratings Changes

A number of brokerages have weighed in on SAH. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. 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 note on Thursday, February 13th. Citigroup began coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 price target on the stock. Needham & Company LLC cut their price target on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Finally, 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 research note on Thursday, March 27th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.83.

About Sonic Automotive

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.