Sonic Automotive (NYSE:SAH) President Jeff Dyke Sells 14,886 Shares

Sonic Automotive, Inc. (NYSE:SAH) President Jeff Dyke sold 14,886 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $85.13, for a total value of $1,267,245.18. Following the transaction, the president directly owned 578,782 shares of the company’s stock, valued at $49,271,711.66. This represents a 2.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jeff Dyke also recently made the following trade(s):

• On Wednesday, June 10th, Jeff Dyke sold 35,114 shares of Sonic Automotive stock. The shares were sold at an average price of $85.22, for a total value of $2,992,415.08.
• On Monday, June 8th, Jeff Dyke sold 50,000 shares of Sonic Automotive stock. The shares were sold at an average price of $82.97, for a total value of $4,148,500.00.

Sonic Automotive Trading Down 0.3%

Shares of SAH stock opened at $84.54 on Thursday. The stock has a 50-day simple moving average of $74.89 and a 200 day simple moving average of $67.06. Sonic Automotive, Inc. has a fifty-two week low of $54.11 and a fifty-two week high of $89.62. The stock has a market capitalization of $2.67 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.95 and a beta of 0.88. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 1.93.

Sonic Automotive (NYSE:SAH) last announced its earnings results on Thursday, April 30th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.22. Sonic Automotive had a return on equity of 22.45% and a net margin of 0.72%.The business had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts expect that Sonic Automotive, Inc. will post 6.92 earnings per share for the current fiscal year.

Sonic Automotive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.41 per share. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Sonic Automotive’s dividend payout ratio (DPR) is currently 48.41%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SAH. Vanguard Group Inc. increased its position in Sonic Automotive by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,646,450 shares of the company’s stock worth $125,278,000 after purchasing an additional 96,836 shares during the last quarter. Public Sector Pension Investment Board increased its position in Sonic Automotive by 39.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 68,842 shares of the company’s stock worth $5,238,000 after purchasing an additional 19,483 shares during the last quarter. Tudor Investment Corp ET AL increased its position in Sonic Automotive by 41.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 183,522 shares of the company’s stock worth $13,964,000 after purchasing an additional 53,510 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Sonic Automotive in the 3rd quarter worth about $779,000. Finally, GSA Capital Partners LLP increased its position in Sonic Automotive by 172.5% in the 3rd quarter. GSA Capital Partners LLP now owns 14,717 shares of the company’s stock worth $1,120,000 after purchasing an additional 9,317 shares during the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SAH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sonic Automotive in a report on Friday, March 27th. Zacks Research raised Sonic Automotive from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Bank of America began coverage on Sonic Automotive in a report on Wednesday, March 4th. They set a “neutral” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $90.00 target price on shares of Sonic Automotive in a report on Tuesday, March 31st. Finally, Stephens dropped their price target on Sonic Automotive from $68.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 19th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.00.

Sonic Automotive Company Profile

Sonic Automotive, Inc is a publicly traded automotive retailer that operates a network of franchised new-car dealerships and used-vehicle dealerships across the United States. Headquartered in Charlotte, North Carolina, the company offers a range of services that include vehicle sales, leasing, finance and insurance products, service and parts, and collision repair. Sonic Automotive’s dealerships represent numerous major automotive brands, and the company also markets a broad selection of pre-owned vehicles under its own banner.

In addition to its core dealership operations, Sonic Automotive has developed digital retail capabilities that allow customers to research, shop and complete transactions online.