MetLife Investment Advisors LLC decreased its holdings in Sonic Automotive Inc (NYSE:SAH) by 43.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,480 shares of the company’s stock after selling 7,148 shares during the period. MetLife Investment Advisors LLC’s holdings in Sonic Automotive were worth $130,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in SAH. Quantamental Technologies LLC acquired a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $31,000. Capital Investment Advisory Services LLC acquired a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $56,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $124,000. GSA Capital Partners LLP acquired a new position in shares of Sonic Automotive in the fourth quarter valued at approximately $150,000. Finally, Stone Ridge Asset Management LLC grew its position in shares of Sonic Automotive by 15.1% in the fourth quarter. Stone Ridge Asset Management LLC now owns 16,309 shares of the company’s stock valued at $224,000 after purchasing an additional 2,137 shares during the last quarter. Hedge funds and other institutional investors own 60.56% of the company’s stock.
Several equities analysts have recently commented on SAH shares. Zacks Investment Research downgraded Sonic Automotive from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. JPMorgan Chase & Co. started coverage on Sonic Automotive in a research report on Tuesday, February 19th. They issued an “underweight” rating and a $14.00 target price on the stock. ValuEngine raised Sonic Automotive from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America raised Sonic Automotive from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.17.
Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, April 25th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.17. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.42 billion. Sonic Automotive had a return on equity of 9.66% and a net margin of 0.52%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. On average, analysts anticipate that Sonic Automotive Inc will post 1.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, June 13th. Sonic Automotive’s dividend payout ratio is currently 22.60%.
About Sonic Automotive
Sonic Automotive, Inc operates as an automotive retailer in the United States. It operates in two segments, Franchised Dealerships and EchoPark. 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.
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