Ensign Peak Advisors Inc Sells 5,262 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Ensign Peak Advisors Inc reduced its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 46.7% in the second quarter, Holdings Channel reports. The firm owned 6,000 shares of the company’s stock after selling 5,262 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Sonic Automotive were worth $327,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Westwood Holdings Group Inc. boosted its holdings in shares of Sonic Automotive by 12.6% during the 1st quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock valued at $35,898,000 after acquiring an additional 70,540 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Sonic Automotive by 524.4% in the second quarter. Victory Capital Management Inc. now owns 100,602 shares of the company’s stock worth $5,480,000 after buying an additional 84,489 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Sonic Automotive by 26.8% in the second quarter. Renaissance Technologies LLC now owns 88,826 shares of the company’s stock worth $4,838,000 after buying an additional 18,800 shares during the last quarter. Denali Advisors LLC boosted its holdings in shares of Sonic Automotive by 31.1% in the second quarter. Denali Advisors LLC now owns 48,100 shares of the company’s stock worth $2,620,000 after buying an additional 11,400 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Sonic Automotive in the fourth quarter worth approximately $1,724,000. 46.92% of the stock is currently owned by institutional investors.

Sonic Automotive Trading Up 1.7 %

Sonic Automotive stock opened at $59.06 on Monday. The stock has a market cap of $2.02 billion, a P/E ratio of 12.10 and a beta of 1.61. The company has a debt-to-equity ratio of 2.04, a current ratio of 1.10 and a quick ratio of 0.36. Sonic Automotive, Inc. has a 1 year low of $41.19 and a 1 year high of $64.68. The firm’s 50 day moving average price is $58.48 and its 200-day moving average price is $56.38.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Monday, August 5th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.09. Sonic Automotive had a net margin of 1.35% and a return on equity of 25.31%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities analysts predict that Sonic Automotive, Inc. will post 5.79 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, September 13th. Sonic Automotive’s dividend payout ratio is presently 24.59%.

Insider Buying and Selling

In related news, CFO Heath Byrd sold 19,827 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total value of $1,189,620.00. Following the sale, the chief financial officer now owns 173,618 shares in the company, valued at $10,417,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 40.95% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SAH shares. JPMorgan Chase & Co. raised their price objective on shares of Sonic Automotive from $63.00 to $75.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Morgan Stanley raised shares of Sonic Automotive from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $40.00 to $58.00 in a report on Wednesday, September 25th. Bank of America lowered their price target on shares of Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Stephens started coverage on shares of Sonic Automotive in a report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price target on the stock. Finally, Needham & Company LLC started coverage on shares of Sonic Automotive in a report on Tuesday, August 20th. They set a “buy” rating and a $73.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sonic Automotive currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.50.

Sonic Automotive Profile

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.