Northern Trust Corp Reduces Stock Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Northern Trust Corp lowered its holdings in shares of Sonic Automotive, Inc. (NYSE:SAHGet Rating) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 395,603 shares of the company’s stock after selling 4,124 shares during the quarter. Northern Trust Corp owned 0.96% of Sonic Automotive worth $19,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC purchased a new position in Sonic Automotive during the 4th quarter valued at $213,000. Russell Investments Group Ltd. boosted its holdings in Sonic Automotive by 17.1% during the 4th quarter. Russell Investments Group Ltd. now owns 43,149 shares of the company’s stock valued at $2,132,000 after acquiring an additional 6,295 shares during the period. Two Sigma Investments LP boosted its holdings in Sonic Automotive by 67.7% during the 3rd quarter. Two Sigma Investments LP now owns 98,015 shares of the company’s stock valued at $5,150,000 after acquiring an additional 39,563 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in Sonic Automotive by 67.8% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 28,760 shares of the company’s stock valued at $1,511,000 after acquiring an additional 11,620 shares during the period. Finally, Clearline Capital LP boosted its holdings in Sonic Automotive by 69.1% during the 3rd quarter. Clearline Capital LP now owns 148,165 shares of the company’s stock valued at $7,785,000 after acquiring an additional 60,539 shares during the period. Institutional investors own 59.34% of the company’s stock.

In other Sonic Automotive news, major shareholder Paul P. Rusnak bought 127,475 shares of Sonic Automotive stock in a transaction that occurred on Wednesday, April 6th. The shares were bought at an average cost of $41.89 per share, with a total value of $5,339,927.75. Following the transaction, the insider now directly owns 5,000,000 shares of the company’s stock, valued at approximately $209,450,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Jeff Dyke sold 6,395 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $52.37, for a total value of $334,906.15. The disclosure for this sale can be found here. Insiders own 36.07% of the company’s stock.

A number of equities analysts recently issued reports on the company. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. cut Sonic Automotive from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $70.00 to $57.00 in a report on Thursday, April 7th. Zacks Investment Research cut Sonic Automotive from a “strong-buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Thursday, March 10th. Morgan Stanley upped their target price on Sonic Automotive from $40.00 to $43.00 and gave the stock an “underweight” rating in a report on Tuesday, March 8th. Finally, Seaport Res Ptn cut Sonic Automotive from a “buy” rating to a “neutral” rating in a report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.67.

SAH opened at $47.11 on Friday. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 5.14 and a beta of 2.05. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.45. Sonic Automotive, Inc. has a 12 month low of $38.64 and a 12 month high of $58.00. The stock has a fifty day moving average price of $45.19 and a 200-day moving average price of $47.96.

Sonic Automotive (NYSE:SAHGet Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.45 by ($0.12). The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.70 billion. Sonic Automotive had a return on equity of 39.37% and a net margin of 2.97%. The company’s revenue was up 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, equities research analysts forecast that Sonic Automotive, Inc. will post 10.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Tuesday, June 14th. Sonic Automotive’s payout ratio is 10.92%.

About Sonic Automotive (Get Rating)

Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.

See Also

Institutional Ownership by Quarter for Sonic Automotive (NYSE:SAH)

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