Arizona State Retirement System Acquires 420 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Arizona State Retirement System raised its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 10.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,324 shares of the company’s stock after acquiring an additional 420 shares during the quarter. Arizona State Retirement System’s holdings in Sonic Automotive were worth $236,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC acquired a new stake in Sonic Automotive in the first quarter valued at $30,000. Innealta Capital LLC acquired a new stake in shares of Sonic Automotive in the second quarter valued at about $41,000. AM Squared Ltd acquired a new stake in shares of Sonic Automotive in the second quarter valued at about $82,000. TFO Wealth Partners LLC raised its position in shares of Sonic Automotive by 35,366.7% during the fourth quarter. TFO Wealth Partners LLC now owns 2,128 shares of the company’s stock worth $120,000 after acquiring an additional 2,122 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Sonic Automotive during the 4th quarter valued at approximately $185,000. Institutional investors own 46.92% of the company’s stock.

Insider Buying and Selling at Sonic Automotive

In other Sonic Automotive news, CFO Heath Byrd sold 19,827 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $60.00, for a total value of $1,189,620.00. Following the transaction, the chief financial officer now directly owns 173,618 shares of the company’s stock, valued at $10,417,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 40.95% of the stock is currently owned by company insiders.

Sonic Automotive Trading Up 1.8 %

SAH opened at $56.53 on Wednesday. The company has a market cap of $1.92 billion, a P/E ratio of 11.65 and a beta of 1.61. The company has a fifty day moving average price of $58.21 and a two-hundred day moving average price of $56.04. The company has a current ratio of 1.10, a quick ratio of 0.36 and a debt-to-equity ratio of 2.04. Sonic Automotive, Inc. has a 1-year low of $41.19 and a 1-year high of $64.68.

Sonic Automotive (NYSE:SAH) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.09. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.56 billion. Sonic Automotive had a return on equity of 25.31% and a net margin of 1.35%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.83 EPS. Analysts predict that Sonic Automotive, Inc. will post 5.79 EPS for the current fiscal year.

Sonic Automotive Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.12%. The ex-dividend date is Friday, September 13th. Sonic Automotive’s payout ratio is currently 24.59%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SAH shares. Needham & Company LLC started coverage on shares of Sonic Automotive in a research report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Bank of America decreased their price target on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Finally, Stephens began coverage on Sonic Automotive in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $64.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.50.

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.