CWA Asset Management Group LLC Takes Position in Sonic Automotive, Inc. $SAH

CWA Asset Management Group LLC bought a new position in shares of Sonic Automotive, Inc. (NYSE:SAH) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,363 shares of the company’s stock, valued at approximately $2,006,000.

Several other large investors have also recently bought and sold shares of SAH. Royal Bank of Canada increased its position in shares of Sonic Automotive by 37.1% during the 1st quarter. Royal Bank of Canada now owns 13,946 shares of the company’s stock worth $795,000 after purchasing an additional 3,777 shares during the last quarter. AQR Capital Management LLC increased its holdings in Sonic Automotive by 13.6% during the first quarter. AQR Capital Management LLC now owns 23,310 shares of the company’s stock worth $1,328,000 after buying an additional 2,793 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Sonic Automotive by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,853 shares of the company’s stock worth $504,000 after acquiring an additional 483 shares in the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Sonic Automotive in the 1st quarter valued at about $1,577,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Sonic Automotive by 124.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 355,328 shares of the company’s stock valued at $20,239,000 after acquiring an additional 197,336 shares during the period. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Stock Up 2.3%

SAH opened at $63.06 on Tuesday. The stock has a fifty day moving average of $63.22 and a 200-day moving average of $73.13. The company has a market capitalization of $2.15 billion, a P/E ratio of 17.04 and a beta of 0.92. Sonic Automotive, Inc. has a fifty-two week low of $52.00 and a fifty-two week high of $89.62. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.27 and a current ratio of 1.02.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings results on Thursday, October 23rd. The company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.41). Sonic Automotive had a return on equity of 21.65% and a net margin of 0.86%.The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business posted $1.26 earnings per share. Sonic Automotive’s revenue was up 13.8% compared to the same quarter last year. On average, equities analysts expect that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.52 annualized dividend and a dividend yield of 2.4%. Sonic Automotive’s dividend payout ratio (DPR) is currently 41.08%.

Analysts Set New Price Targets

SAH has been the subject of several recent analyst reports. Barclays began coverage on shares of Sonic Automotive in a research note on Tuesday, November 11th. They issued an “equal weight” rating and a $71.00 target price for the company. Citigroup upgraded Sonic Automotive from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Thursday, November 6th. Needham & Company LLC decreased their target price on Sonic Automotive from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Morgan Stanley set a $68.00 price target on Sonic Automotive in a report on Monday, December 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sonic Automotive from $76.00 to $70.00 and set an “underweight” rating on the stock in a report on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $80.25.

About Sonic Automotive

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.