Sonic Automotive, Inc. (NYSE:SAH) Position Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 54.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,000 shares of the company’s stock after purchasing an additional 15,849 shares during the quarter. New York State Common Retirement Fund’s holdings in Sonic Automotive were worth $2,851,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Sonic Automotive during the fourth quarter worth $72,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Sonic Automotive by 100.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock worth $70,000 after buying an additional 599 shares during the period. SG Americas Securities LLC purchased a new stake in Sonic Automotive during the fourth quarter valued at about $244,000. MQS Management LLC acquired a new position in shares of Sonic Automotive in the third quarter worth about $394,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Sonic Automotive in the third quarter worth approximately $532,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Sonic Automotive Price Performance

NYSE SAH opened at $68.08 on Friday. The business has a 50 day simple moving average of $68.98 and a 200 day simple moving average of $63.64. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.35 and a current ratio of 1.09. Sonic Automotive, Inc. has a 52-week low of $47.82 and a 52-week high of $76.78. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 11.02 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. Analysts anticipate that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is presently 22.65%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SAH. Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Needham & Company LLC raised their target price on Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Stephens upped their price target on Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. StockNews.com upgraded Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upped their target price on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $79.20.

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.