ProShare Advisors LLC Has $5.87 Million Holdings in Sonic Automotive, Inc. $SAH

ProShare Advisors LLC increased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 22.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,898 shares of the company’s stock after acquiring an additional 17,286 shares during the period. ProShare Advisors LLC owned about 0.28% of Sonic Automotive worth $5,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SAH. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock worth $35,000 after acquiring an additional 397 shares during the last quarter. Camelot Portfolios LLC purchased a new stake in Sonic Automotive in the 4th quarter valued at about $41,000. Torren Management LLC purchased a new stake in Sonic Automotive in the 4th quarter valued at about $50,000. Aster Capital Management DIFC Ltd purchased a new stake in Sonic Automotive in the 3rd quarter valued at about $63,000. Finally, National Bank of Canada FI purchased a new stake in Sonic Automotive in the 3rd quarter valued at about $78,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Sonic Automotive Trading Up 2.8%

Shares of SAH stock opened at $78.02 on Friday. The company has a 50 day moving average of $69.63 and a 200-day moving average of $65.11. 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, Inc. has a 12-month low of $54.11 and a 12-month high of $89.62. The firm has a market cap of $2.47 billion, a P/E ratio of 24.85, a PEG ratio of 1.61 and a beta of 0.89.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.62 earnings per share (EPS) 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 company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter last year, the business posted $1.48 EPS. Sonic Automotive’s quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that Sonic Automotive, Inc. will post 6.8 earnings per share for the current year.

Sonic Automotive Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Monday, June 15th. This is an increase from Sonic Automotive’s previous quarterly dividend of $0.38. Sonic Automotive’s dividend payout ratio (DPR) is 48.41%.

Wall Street Analyst Weigh In

SAH has been the subject of several analyst reports. Morgan Stanley set a $72.00 price objective on shares of Sonic Automotive in a research note on Thursday, May 7th. Stephens decreased their price objective on shares of Sonic Automotive from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Thursday, February 19th. Bank of America initiated coverage on shares of Sonic Automotive in a research note on Wednesday, March 4th. They issued a “neutral” rating for the company. Zacks Research upgraded shares of Sonic Automotive from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Sonic Automotive from $67.00 to $77.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $82.13.

About Sonic Automotive

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.