Sonic Automotive, Inc. (NYSE:SAH) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 34.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,334 shares of the company’s stock after acquiring an additional 2,645 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sonic Automotive were worth $655,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its holdings in shares of Sonic Automotive by 515.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 480 shares of the company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Sonic Automotive by 100.3% during the third 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. R Squared Ltd purchased a new position in Sonic Automotive in the fourth quarter valued at about $72,000. SG Americas Securities LLC purchased a new position in Sonic Automotive in the fourth quarter valued at about $244,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Sonic Automotive during the 4th quarter valued at approximately $252,000. 46.92% of the stock is currently owned by hedge funds and other institutional investors.

Sonic Automotive Stock Performance

Sonic Automotive stock opened at $54.93 on Monday. Sonic Automotive, Inc. has a fifty-two week low of $47.82 and a fifty-two week high of $76.78. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 8.89 and a beta of 1.70. The stock has a fifty day moving average of $68.13 and a two-hundred day moving average of $64.03. 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 (NYSE:SAH) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. On average, analysts anticipate that Sonic Automotive, Inc. will post 6.14 EPS for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, March 14th. Sonic Automotive’s dividend payout ratio is presently 22.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SAH. Needham & Company LLC dropped their price objective on Sonic Automotive from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on Sonic Automotive from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com downgraded Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Finally, Stephens increased their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sonic Automotive has a consensus rating of “Moderate Buy” and a consensus target price of $74.80.

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.