Sonic Automotive, Inc. $SAH Stock Position Lifted by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 64.4% during the first quarter, Holdings Channel.com reports. The firm owned 131,302 shares of the company’s stock after acquiring an additional 51,420 shares during the period. Empowered Funds LLC’s holdings in Sonic Automotive were worth $9,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SAH. Northwestern Mutual Wealth Management Co. grew its position in Sonic Automotive by 992.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 437 shares of the company’s stock valued at $35,000 after buying an additional 397 shares in the last quarter. Camelot Portfolios LLC bought a new stake in shares of Sonic Automotive during the 4th quarter worth about $41,000. Torren Management LLC acquired a new stake in shares of Sonic Automotive in the 4th quarter worth approximately $50,000. National Bank of Canada FI acquired a new stake in shares of Sonic Automotive in the 3rd quarter worth approximately $78,000. Finally, State of Wyoming bought a new position in shares of Sonic Automotive in the first quarter valued at approximately $79,000. Institutional investors and hedge funds own 46.92% of the company’s stock.

Insider Activity at Sonic Automotive

In related news, President Jeff Dyke sold 35,114 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $85.22, for a total value of $2,992,415.08. Following the completion of the transaction, the president owned 543,668 shares in the company, valued at $46,331,386.96. This trade represents a 6.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,000 shares of company stock worth $8,408,160 over the last three months. Corporate insiders own 43.68% of the company’s stock.

Sonic Automotive Trading Up 1.8%

Shares of NYSE:SAH opened at $80.68 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.25 and a current ratio of 1.01. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.27 and a beta of 0.86. Sonic Automotive, Inc. has a 1-year low of $54.11 and a 1-year high of $113.67. The company has a 50 day moving average price of $88.65 and a 200 day moving average price of $75.35.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.07. Sonic Automotive had a return on equity of 20.75% and a net margin of 1.37%.The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the prior year, the company earned $2.19 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Sonic Automotive, Inc. will post 6.95 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.0%. Sonic Automotive’s payout ratio is 26.16%.

Wall Street Analyst Weigh In

SAH has been the topic of several recent analyst reports. UBS Group boosted their target price on Sonic Automotive from $90.00 to $109.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings upgraded Sonic Automotive from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. dropped their price objective on Sonic Automotive from $76.00 to $72.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 4th. Morgan Stanley lowered Sonic Automotive from an “equal weight” rating to an “underweight” rating and set a $72.00 price objective for the company. in a report on Friday, August 7th. Finally, Barclays raised their target price on Sonic Automotive from $77.00 to $92.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 15th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.89.

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.