6,600 Shares in Sonic Automotive, Inc. $SAH Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in Sonic Automotive, Inc. (NYSE:SAH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,600 shares of the company’s stock, valued at approximately $453,000.

A number of other institutional investors have also recently bought and sold shares of SAH. Tudor Investment Corp ET AL boosted its holdings in shares of 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 buying an additional 53,510 shares during the last quarter. BNP Paribas Financial Markets grew its position in Sonic Automotive by 70.8% during the fourth quarter. BNP Paribas Financial Markets now owns 181,189 shares of the company’s stock valued at $11,208,000 after buying an additional 75,125 shares during the period. ProShare Advisors LLC increased its holdings in Sonic Automotive by 22.3% during the fourth quarter. ProShare Advisors LLC now owns 94,898 shares of the company’s stock worth $5,870,000 after buying an additional 17,286 shares during the last quarter. Inceptionr LLC bought a new stake in Sonic Automotive in the third quarter worth about $358,000. Finally, CWM LLC raised its position in Sonic Automotive by 11.3% in the fourth quarter. CWM LLC now owns 2,858 shares of the company’s stock worth $177,000 after acquiring an additional 291 shares during the period. Institutional investors own 46.92% of the company’s stock.

Insiders Place Their Bets

In related news, President Jeff Dyke sold 50,000 shares of Sonic Automotive stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $82.97, for a total value of $4,148,500.00. Following the completion of the transaction, the president directly owned 111,622 shares in the company, valued at approximately $9,261,277.34. The trade was a 30.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 100,000 shares of company stock valued at $8,408,160. 43.68% of the stock is currently owned by insiders.

Sonic Automotive Price Performance

NYSE SAH opened at $87.88 on Thursday. The company has a quick ratio of 0.29, a current ratio of 1.03 and a debt-to-equity ratio of 1.93. The company has a market cap of $2.78 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 2.00 and a beta of 0.89. Sonic Automotive, Inc. has a 52 week low of $54.11 and a 52 week high of $89.62. The firm’s 50-day simple moving average is $81.04 and its two-hundred day simple moving average is $69.78.

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

Sonic Automotive Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a $0.41 dividend. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.64 annualized dividend and a yield of 1.9%. Sonic Automotive’s payout ratio is 52.23%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SAH. JPMorgan Chase & Co. increased their target price on shares of Sonic Automotive from $67.00 to $77.00 and gave the company an “underweight” rating in a research report on Thursday, May 7th. Morgan Stanley set a $72.00 price target on shares of Sonic Automotive in a report on Thursday, May 7th. Zacks Research upgraded Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Needham & Company LLC reissued a “buy” rating and set a $90.00 price objective on shares of Sonic Automotive in a report on Tuesday, March 31st. Finally, Barclays raised their target price on Sonic Automotive from $67.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sonic Automotive currently has an average rating of “Hold” and a consensus target price of $81.62.

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.