UBS Group AG cut its stake in shares of Sonic Automotive, Inc. (NYSE:SAH – Free Report) by 36.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 61,999 shares of the company’s stock after selling 34,819 shares during the period. UBS Group AG’s holdings in Sonic Automotive were worth $3,835,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in Sonic Automotive by 1.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,426 shares of the company’s stock worth $924,000 after acquiring an additional 273 shares in the last quarter. CWM LLC lifted its position in Sonic Automotive by 11.3% during the 4th quarter. CWM LLC now owns 2,858 shares of the company’s stock worth $177,000 after acquiring an additional 291 shares in the last quarter. Creative Planning lifted its position in Sonic Automotive by 12.4% during the 3rd quarter. Creative Planning now owns 3,000 shares of the company’s stock worth $228,000 after acquiring an additional 332 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Sonic Automotive by 992.5% during 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 in the last quarter. Finally, CoreCap Advisors LLC increased its holdings in Sonic Automotive by 28.0% during the 4th quarter. CoreCap Advisors LLC now owns 1,829 shares of the company’s stock worth $113,000 after purchasing an additional 400 shares during the last quarter. 46.92% of the stock is owned by institutional investors and hedge funds.
Sonic Automotive Price Performance
Shares of NYSE SAH opened at $78.02 on Friday. Sonic Automotive, Inc. has a twelve month low of $54.11 and a twelve month high of $89.62. The company has a current ratio of 1.03, a quick ratio of 0.29 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89. The business has a 50 day simple moving average of $69.63 and a 200-day simple moving average of $65.11.
Sonic Automotive Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.41 dividend. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, June 15th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.1%. Sonic Automotive’s dividend payout ratio (DPR) is presently 48.41%.
Wall Street Analysts Forecast Growth
SAH has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Sonic Automotive in a research note on Friday, March 27th. Morgan Stanley set a $72.00 target price on Sonic Automotive in a research note on Thursday, May 7th. Barclays increased their target price on Sonic Automotive from $67.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. increased their target price on Sonic Automotive from $67.00 to $77.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $90.00 target price on shares of Sonic Automotive in a research note on Tuesday, March 31st. Three equities 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 stock. According to MarketBeat, Sonic Automotive has a consensus rating of “Hold” and a consensus target price of $82.13.
View Our Latest Stock Report on SAH
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.
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