Crossmark Global Holdings Inc. Invests $351,000 in Sonic Automotive, Inc. (SAH)
Crossmark Global Holdings Inc. bought a new stake in Sonic Automotive, Inc. (NYSE:SAH) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,183 shares of the company’s stock, valued at approximately $351,000.
Several other institutional investors also recently modified their holdings of SAH. Northern Trust Corp boosted its holdings in shares of Sonic Automotive by 23.6% in the 2nd quarter. Northern Trust Corp now owns 1,201,056 shares of the company’s stock valued at $23,360,000 after buying an additional 228,935 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Sonic Automotive by 49.4% in the 2nd quarter. Prudential Financial Inc. now owns 422,930 shares of the company’s stock valued at $8,226,000 after buying an additional 139,778 shares in the last quarter. Elliott Management Corp boosted its holdings in shares of Sonic Automotive by 17.6% in the 2nd quarter. Elliott Management Corp now owns 892,275 shares of the company’s stock valued at $17,355,000 after buying an additional 133,700 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Sonic Automotive by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 2,344,255 shares of the company’s stock valued at $47,002,000 after buying an additional 78,687 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Sonic Automotive by 8.2% in the 1st quarter. State Street Corp now owns 823,177 shares of the company’s stock valued at $16,501,000 after buying an additional 62,209 shares in the last quarter. Institutional investors and hedge funds own 64.23% of the company’s stock.
In other news, CFO Heath Byrd sold 11,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $20.43, for a total value of $224,730.00. Following the completion of the sale, the chief financial officer now owns 143,306 shares in the company, valued at approximately $2,927,741.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeff Dyke sold 8,551 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $20.10, for a total transaction of $171,875.10. Following the completion of the sale, the executive vice president now owns 1,262,056 shares of the company’s stock, valued at approximately $25,367,325.60. The disclosure for this sale can be found here. 30.29% of the stock is owned by corporate insiders.
SAH has been the subject of a number of recent research reports. Bank of America Corporation cut shares of Sonic Automotive from a “neutral” rating to an “underperform” rating in a research note on Thursday, October 19th. Zacks Investment Research upgraded shares of Sonic Automotive from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. BidaskClub cut shares of Sonic Automotive from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. KeyCorp reiterated a “hold” rating on shares of Sonic Automotive in a research note on Friday, September 1st. Finally, ValuEngine cut shares of Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.67.
Shares of Sonic Automotive, Inc. (SAH) traded up $0.10 during trading hours on Friday, reaching $20.05. 69,600 shares of the company were exchanged, compared to its average volume of 218,698. The firm has a market cap of $866.06, a PE ratio of 11.86, a P/E/G ratio of 3.67 and a beta of 1.54. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.26 and a current ratio of 1.06. Sonic Automotive, Inc. has a 12-month low of $15.95 and a 12-month high of $27.45.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Sonic Automotive had a net margin of 0.70% and a return on equity of 10.47%. Sonic Automotive’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. analysts anticipate that Sonic Automotive, Inc. will post 1.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Thursday, December 14th. Sonic Automotive’s dividend payout ratio is currently 13.07%.
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Sonic Automotive Profile
Sonic Automotive, Inc is an automotive retailer in the United States. The Company’s operating segments include Franchised Dealerships and EchoPark. Its Franchised Dealerships segment consists of retail automotive franchises that sell new vehicles and buy and sell used vehicles, sell replacement parts, perform vehicle repair and maintenance services, and arrange finance and insurance products.
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