Hotchkis & Wiley Capital Management LLC Has $48.23 Million Holdings in Sonic Automotive, Inc. (NYSE:SAH)

Hotchkis & Wiley Capital Management LLC reduced its position in Sonic Automotive, Inc. (NYSE:SAH) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 824,686 shares of the company’s stock after selling 51,220 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 2.41% of Sonic Automotive worth $48,228,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SAH. Harbor Capital Advisors Inc. increased its position in Sonic Automotive by 124.7% during the third quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock worth $3,239,000 after buying an additional 30,731 shares during the period. Victory Capital Management Inc. lifted its stake in Sonic Automotive by 524.4% in the second quarter. Victory Capital Management Inc. now owns 100,602 shares of the company’s stock valued at $5,480,000 after buying an additional 84,489 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Sonic Automotive during the third quarter valued at approximately $532,000. Intech Investment Management LLC lifted its position in shares of Sonic Automotive by 418.9% during the 3rd quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after purchasing an additional 17,512 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Sonic Automotive in the 3rd quarter valued at about $1,244,000. 46.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SAH has been the subject of a number of recent research reports. Stephens began coverage on shares of Sonic Automotive in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Bank of America decreased their target price on Sonic Automotive from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Needham & Company LLC boosted their price target on shares of Sonic Automotive from $73.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Morgan Stanley raised Sonic Automotive from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $58.00 in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Sonic Automotive presently has a consensus rating of “Moderate Buy” and an average price target of $67.40.

Sonic Automotive Trading Up 0.3 %

NYSE SAH opened at $69.36 on Tuesday. Sonic Automotive, Inc. has a 12 month low of $47.82 and a 12 month high of $70.88. The stock has a market capitalization of $2.37 billion, a P/E ratio of 12.34 and a beta of 1.65. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.11 and a quick ratio of 0.35. The firm’s 50-day moving average is $59.99 and its two-hundred day moving average is $58.23.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.17). The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.55 billion. Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 earnings per share. On average, sell-side analysts anticipate that Sonic Automotive, Inc. will post 5.6 earnings per share for the current year.

Sonic Automotive Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.35 per share. This is a boost from Sonic Automotive’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. Sonic Automotive’s dividend payout ratio is presently 21.35%.

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.