Federico F. Pena Sells 4,575 Shares of Sonic Co. (SONC) Stock

Sonic Co. (NASDAQ:SONC) Director Federico F. Pena sold 4,575 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $25.99, for a total value of $118,904.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Federico F. Pena also recently made the following trade(s):

  • On Monday, October 23rd, Federico F. Pena sold 1,161 shares of Sonic stock. The shares were sold at an average price of $25.20, for a total value of $29,257.20.

Shares of Sonic Co. (NASDAQ:SONC) traded up $0.01 during trading on Friday, reaching $26.08. The company’s stock had a trading volume of 1,048,700 shares, compared to its average volume of 1,321,325. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of -2.87. Sonic Co. has a 12-month low of $22.11 and a 12-month high of $30.05. The firm has a market capitalization of $1,002.60, a PE ratio of 17.62, a PEG ratio of 1.16 and a beta of 1.74.

Sonic (NASDAQ:SONC) last announced its quarterly earnings data on Thursday, January 4th. The restaurant operator reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. Sonic had a negative return on equity of 28.95% and a net margin of 13.68%. The firm had revenue of $105.40 million during the quarter, compared to analysts’ expectations of $106.86 million. During the same quarter last year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year. analysts expect that Sonic Co. will post 1.52 earnings per share for the current fiscal year.

Sonic announced that its Board of Directors has approved a share buyback plan on Thursday, October 26th that permits the company to repurchase $160.00 million in shares. This repurchase authorization permits the restaurant operator to buy up to 14.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Wednesday, February 7th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $0.64 dividend on an annualized basis and a yield of 2.45%. Sonic’s dividend payout ratio (DPR) is presently 43.24%.

A number of institutional investors have recently made changes to their positions in SONC. Riverhead Capital Management LLC lifted its holdings in shares of Sonic by 77.7% in the second quarter. Riverhead Capital Management LLC now owns 4,797 shares of the restaurant operator’s stock valued at $127,000 after purchasing an additional 2,097 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Sonic by 74.5% in the second quarter. Flinton Capital Management LLC now owns 6,290 shares of the restaurant operator’s stock valued at $167,000 after purchasing an additional 2,686 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Sonic in the second quarter valued at approximately $228,000. Wolverine Trading LLC lifted its holdings in shares of Sonic by 382.4% in the third quarter. Wolverine Trading LLC now owns 9,110 shares of the restaurant operator’s stock valued at $232,000 after purchasing an additional 12,336 shares in the last quarter. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Sonic in the third quarter valued at approximately $239,000.

SONC has been the subject of several recent research reports. Zacks Investment Research raised Sonic from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Friday, September 22nd. Oppenheimer reaffirmed a “buy” rating and set a $29.00 target price on shares of Sonic in a research note on Friday, October 6th. Cowen reaffirmed a “neutral” rating on shares of Sonic in a research note on Tuesday, October 17th. Canaccord Genuity raised their target price on Sonic from $24.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, October 17th. Finally, BidaskClub raised Sonic from a “sell” rating to a “hold” rating in a research note on Saturday, December 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $29.64.

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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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