New York State Teachers Retirement System Increases Position in Sonic Automotive, Inc. (NYSE:SAH)

New York State Teachers Retirement System raised its position in shares of Sonic Automotive, Inc. (NYSE:SAH) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,935 shares of the company’s stock after purchasing an additional 212 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Sonic Automotive worth $1,643,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Sonic Automotive by 346.1% during the 3rd quarter. Barclays PLC now owns 24,413 shares of the company’s stock worth $1,427,000 after acquiring an additional 18,940 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Sonic Automotive by 418.9% in the third quarter. Intech Investment Management LLC now owns 21,692 shares of the company’s stock worth $1,269,000 after buying an additional 17,512 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Sonic Automotive by 124.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock valued at $3,239,000 after buying an additional 30,731 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Sonic Automotive by 68.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 53,231 shares of the company’s stock valued at $3,113,000 after buying an additional 21,650 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Sonic Automotive during the 3rd quarter valued at $532,000. Institutional investors own 46.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stephens boosted their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Needham & Company LLC boosted their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Finally, Seaport Res Ptn raised shares of Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $79.20.

Sonic Automotive Trading Down 5.1 %

Shares of NYSE:SAH opened at $68.65 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 1.75. The company has a market capitalization of $2.35 billion, a PE ratio of 11.11 and a beta of 1.68. The business has a 50 day moving average of $68.54 and a two-hundred day moving average of $63.30. Sonic Automotive, Inc. has a 12-month low of $47.82 and a 12-month high of $76.78.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a return on equity of 19.96% and a net margin of 1.52%. As a group, analysts forecast that Sonic Automotive, Inc. will post 6.14 EPS for the current year.

Sonic Automotive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.35 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.04%. Sonic Automotive’s payout ratio is currently 22.65%.

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.