Sonic Automotive, Inc. (NYSE:SAH) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 7.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,563 shares of the company’s stock after purchasing an additional 5,746 shares during the quarter. BNP Paribas Financial Markets owned 0.24% of Sonic Automotive worth $5,294,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Sonic Automotive by 515.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after buying an additional 402 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Sonic Automotive during the 4th quarter worth about $51,000. R Squared Ltd acquired a new stake in shares of Sonic Automotive during the 4th quarter valued at about $72,000. Aster Capital Management DIFC Ltd grew its position in shares of Sonic Automotive by 1,429.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,545 shares of the company’s stock valued at $98,000 after acquiring an additional 1,444 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Sonic Automotive in the 4th quarter valued at about $185,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Price Performance

Shares of NYSE SAH opened at $69.50 on Wednesday. The firm has a 50-day simple moving average of $60.78 and a 200-day simple moving average of $64.90. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 11.25 and a beta of 1.04. Sonic Automotive, Inc. has a 52 week low of $51.27 and a 52 week high of $76.78.

Sonic Automotive (NYSE:SAH) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.47 billion. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. The business’s revenue was up 7.9% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. On average, equities analysts predict that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, June 13th. Sonic Automotive’s dividend payout ratio (DPR) is presently 19.94%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SAH shares. JPMorgan Chase & Co. dropped their price objective on Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Stephens upped their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Needham & Company LLC decreased their price objective on shares of Sonic Automotive from $93.00 to $74.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Citigroup started coverage on shares of Sonic Automotive in a research note on Wednesday, April 23rd. They set a “neutral” rating and a $64.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $69.83.

About Sonic Automotive

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.