Sonic Automotive, Inc. (NYSE:SAH) CFO Sells $148,800.00 in Stock

Sonic Automotive, Inc. (NYSE:SAH) CFO Heath Byrd sold 2,480 shares of Sonic Automotive stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $148,800.00. Following the transaction, the chief financial officer now directly owns 193,445 shares in the company, valued at $11,606,700. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sonic Automotive Trading Down 1.0 %

Shares of SAH stock opened at $56.19 on Monday. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 2.11. The firm has a market cap of $1.90 billion, a P/E ratio of 11.51 and a beta of 1.71. The company has a 50 day moving average of $55.65 and a 200-day moving average of $54.13. Sonic Automotive, Inc. has a 12-month low of $41.19 and a 12-month high of $64.68.

Sonic Automotive (NYSE:SAH) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.06. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. Sonic Automotive had a return on equity of 27.46% and a net margin of 1.21%. Sonic Automotive’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.33 earnings per share. Sell-side analysts anticipate that Sonic Automotive, Inc. will post 5.86 earnings per share for the current year.

Sonic Automotive Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, June 14th. Sonic Automotive’s dividend payout ratio is currently 24.59%.

Analyst Upgrades and Downgrades

SAH has been the topic of several analyst reports. Morgan Stanley boosted their price target on shares of Sonic Automotive from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Thursday, February 29th. TheStreet upgraded Sonic Automotive from a “c+” rating to a “b” rating in a research note on Wednesday, March 6th. Bank of America raised Sonic Automotive from an “underperform” rating to a “buy” rating and increased their price target for the company from $55.00 to $68.00 in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. raised Sonic Automotive from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $53.00 to $58.00 in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sonic Automotive currently has an average rating of “Hold” and a consensus target price of $57.60.

Institutional Investors Weigh In On Sonic Automotive

Institutional investors have recently added to or reduced their stakes in the business. Westwood Holdings Group Inc. raised its position in shares of Sonic Automotive by 12.6% in the first quarter. Westwood Holdings Group Inc. now owns 630,450 shares of the company’s stock valued at $35,898,000 after purchasing an additional 70,540 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Sonic Automotive by 3.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company’s stock valued at $730,000 after acquiring an additional 458 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Sonic Automotive by 85.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 8,298 shares of the company’s stock valued at $451,000 after acquiring an additional 3,820 shares during the period. Quantbot Technologies LP lifted its position in shares of Sonic Automotive by 109.1% during the first quarter. Quantbot Technologies LP now owns 17,623 shares of the company’s stock worth $1,003,000 after acquiring an additional 9,193 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of Sonic Automotive in the first quarter worth $515,000. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Company 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.