Sonic Automotive, Inc. (NYSE:SAH) President Sells $40,331.52 in Stock

Sonic Automotive, Inc. (NYSE:SAH) President Jeff Dyke sold 576 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $70.02, for a total transaction of $40,331.52. Following the transaction, the president now directly owns 605,393 shares in the company, valued at $42,389,617.86. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, May 30th, Jeff Dyke sold 31,152 shares of Sonic Automotive stock. The shares were sold at an average price of $70.05, for a total transaction of $2,182,197.60.
• On Thursday, May 29th, Jeff Dyke sold 1,838 shares of Sonic Automotive stock. The stock was sold at an average price of $70.00, for a total value of $128,660.00.
• On Wednesday, May 28th, Jeff Dyke sold 16,434 shares of Sonic Automotive stock. The shares were sold at an average price of $70.03, for a total transaction of $1,150,873.02.

Sonic Automotive Stock Performance

SAH opened at $70.56 on Thursday. Sonic Automotive, Inc. has a fifty-two week low of $51.27 and a fifty-two week high of $76.78. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 11.42 and a beta of 1.04. The company has a fifty day moving average of $63.19 and a 200 day moving average of $65.67. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.35 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.40 annualized dividend and a yield of 1.98%. Sonic Automotive’s dividend payout ratio (DPR) is 19.94%.

Institutional Investors Weigh In On Sonic Automotive

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Sonic Automotive by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,557,344 shares of the company’s stock valued at $98,658,000 after buying an additional 20,058 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Sonic Automotive by 52.1% in the 4th quarter. JPMorgan Chase & Co. now owns 80,957 shares of the company’s stock valued at $5,129,000 after purchasing an additional 27,726 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Sonic Automotive by 6.7% in the 4th quarter. Northern Trust Corp now owns 291,133 shares of the company’s stock valued at $18,443,000 after purchasing an additional 18,232 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Sonic Automotive by 54.4% in the 4th quarter. New York State Common Retirement Fund now owns 45,000 shares of the company’s stock valued at $2,851,000 after purchasing an additional 15,849 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Sonic Automotive in the 4th quarter valued at about $244,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Benchmark assumed coverage on shares of Sonic Automotive in a research report on Wednesday, May 28th. They issued a “buy” rating and a $76.00 target price on the stock. Citigroup assumed coverage on shares of Sonic Automotive in a research report on Wednesday, April 23rd. They issued a “neutral” rating and a $64.00 target price on the stock. Wall Street Zen raised shares of Sonic Automotive from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 24th. Finally, Needham & Company LLC cut their target price on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Sonic Automotive has an average rating of “Buy” and an average target price of $70.71.

Sonic Automotive Company Profile

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in three segments, Franchised Dealerships, EchoPark, and Powersports. The Franchised Dealerships segment is involved in the sale of new and used cars and light trucks, and replacement parts; provision of vehicle maintenance, manufacturer warranty repair, and paint and collision repair services; and arrangement of extended warranties, service contracts, financing, insurance, and other aftermarket products for its guests.