Rhumbline Advisers Has $2.92 Million Position in Sonic Automotive, Inc. (NYSE:SAH)

Rhumbline Advisers cut its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,031 shares of the company’s stock after selling 2,136 shares during the period. Rhumbline Advisers owned approximately 0.13% of Sonic Automotive worth $2,916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Phocas Financial Corp. bought a new stake in Sonic Automotive in the third quarter worth approximately $3,645,000. Harbor Capital Advisors Inc. increased its stake in shares of Sonic Automotive by 124.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 55,383 shares of the company’s stock valued at $3,239,000 after acquiring an additional 30,731 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 acquiring an additional 21,650 shares during the period. Assenagon Asset Management S.A. bought a new position in Sonic Automotive during the third quarter worth $1,244,000. Finally, Walleye Capital LLC grew its holdings in Sonic Automotive by 245.6% in the third quarter. Walleye Capital LLC now owns 28,210 shares of the company’s stock worth $1,650,000 after purchasing an additional 20,047 shares during the period. 46.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Stephens increased their price objective on shares of Sonic Automotive from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised their price objective on Sonic Automotive from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Seaport Res Ptn raised Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. StockNews.com raised shares of Sonic Automotive from a “hold” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Needham & Company LLC upped their price objective on shares of Sonic Automotive from $74.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $79.20.

Sonic Automotive Trading Down 0.4 %

Shares of Sonic Automotive stock opened at $68.08 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 stock has a fifty day simple moving average of $68.98 and a 200 day simple moving average of $63.64. Sonic Automotive, Inc. has a 12-month low of $47.82 and a 12-month high of $76.78. The company has a market capitalization of $2.33 billion, a P/E ratio of 11.02 and a beta of 1.68.

Sonic Automotive (NYSE:SAH) last posted its earnings results on Wednesday, February 12th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.05. Sonic Automotive had a net margin of 1.52% and a return on equity of 19.96%. On average, sell-side analysts anticipate that Sonic Automotive, Inc. will post 6.14 earnings per share for the current fiscal year.

Sonic Automotive Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.06%. Sonic Automotive’s dividend 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.