LSV Asset Management Lowers Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

LSV Asset Management lessened its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 44.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,700 shares of the company’s stock after selling 4,600 shares during the period. LSV Asset Management’s holdings in Sonic Automotive were worth $361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SAH. Vanguard Group Inc. grew its position in shares of Sonic Automotive by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock worth $98,658,000 after purchasing an additional 20,058 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Sonic Automotive by 12.4% in the 4th quarter. First Eagle Investment Management LLC now owns 132,106 shares of the company’s stock worth $8,369,000 after purchasing an additional 14,600 shares during the period. Denali Advisors LLC grew its holdings in Sonic Automotive by 111.2% during the 4th quarter. Denali Advisors LLC now owns 87,100 shares of the company’s stock valued at $5,518,000 after buying an additional 45,857 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 27,726 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Sonic Automotive by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 71,051 shares of the company’s stock worth $4,501,000 after buying an additional 2,212 shares in the last quarter. 46.92% of the stock is owned by institutional investors.

Sonic Automotive Stock Down 0.3 %

Shares of SAH opened at $58.59 on Wednesday. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The business has a fifty day moving average of $64.24 and a 200 day moving average of $64.07. The company has a market cap of $1.98 billion, a PE ratio of 9.48 and a beta of 1.43. Sonic Automotive, Inc. has a 52-week low of $47.82 and a 52-week high of $76.78.

Sonic Automotive (NYSE:SAH) last released its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, sell-side analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.39%. Sonic Automotive’s dividend payout ratio is 22.65%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a report on Monday, March 24th. Stephens boosted their price target on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC decreased their price target on shares of Sonic Automotive from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Wednesday, March 19th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sonic Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $74.80.

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.