Sonic Corp. (NASDAQ:SONC) VP Carolyn C. Cummins sold 1,200 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $27.02, for a total value of $32,424.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Sonic Corp. (NASDAQ SONC) traded up $0.44 during midday trading on Tuesday, reaching $27.33. The company had a trading volume of 1,338,927 shares, compared to its average volume of 938,909. Sonic Corp. has a 12 month low of $22.11 and a 12 month high of $30.05. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of -3.19. The firm has a market cap of $1,016.32, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.29 and a beta of 1.74.

Sonic (NASDAQ:SONC) last posted its quarterly earnings data on Monday, October 16th. The restaurant operator reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Sonic had a negative return on equity of 33.92% and a net margin of 13.34%. The company had revenue of $123.60 million during the quarter, compared to analyst estimates of $126.01 million. During the same period in the previous year, the business earned $0.45 EPS. Sonic’s quarterly revenue was down 23.8% on a year-over-year basis. equities analysts anticipate that Sonic Corp. will post 1.34 EPS for the current fiscal year.

Sonic announced that its board has approved a stock buyback program on Wednesday, August 9th that permits the company to buyback $160.00 million in shares. This buyback authorization permits the restaurant operator to repurchase up to 16.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Wednesday, November 8th were paid a dividend of $0.16 per share. This is a positive change from Sonic’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, November 7th. Sonic’s payout ratio is 43.54%.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Sonic by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,596,500 shares of the restaurant operator’s stock worth $95,272,000 after buying an additional 43,146 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sonic by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,962,894 shares of the restaurant operator’s stock worth $49,955,000 after buying an additional 15,963 shares in the last quarter. Macquarie Group Ltd. increased its stake in Sonic by 25.4% during the 3rd quarter. Macquarie Group Ltd. now owns 1,462,539 shares of the restaurant operator’s stock worth $37,222,000 after buying an additional 296,665 shares in the last quarter. Westfield Capital Management Co. LP increased its stake in Sonic by 5.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,110,995 shares of the restaurant operator’s stock worth $28,275,000 after buying an additional 54,605 shares in the last quarter. Finally, State Street Corp increased its stake in Sonic by 2.0% during the 2nd quarter. State Street Corp now owns 1,083,561 shares of the restaurant operator’s stock worth $28,707,000 after buying an additional 21,420 shares in the last quarter.

SONC has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $29.00 price target on shares of Sonic in a report on Tuesday, October 17th. Zacks Investment Research raised Sonic from a “sell” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, September 13th. Citigroup initiated coverage on Sonic in a report on Monday, September 18th. They issued a “buy” rating and a $28.00 price target for the company. Bank of America reaffirmed a “buy” rating and issued a $30.00 price target on shares of Sonic in a report on Monday, August 14th. Finally, Canaccord Genuity upped their price target on Sonic from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $27.73.

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Sonic Company Profile

Sonic Corp. operates and franchises the chain of drive-thru restaurants (Sonic Drive-Ins) in the United States. As of August 31, 2016, 3,557 Sonic Drive-Ins were in operation from coast to coast in 45 states, consisting of 345 Company drive-thrus and 3,212 franchise drive-thrus. As of August 31, 2016, its restaurant design and construction consisted of a kitchen housed in a one-story building, which was approximately 1,500 square feet, flanked by canopy-covered rows of 16 to 24 parking spaces, with each space having its own payment terminal, intercom speaker system and menu board.

Insider Buying and Selling by Quarter for Sonic (NASDAQ:SONC)

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