Dimensional Fund Advisors LP Sells 24,912 Shares of Sonic Automotive, Inc. (NYSE:SAH)

Dimensional Fund Advisors LP lowered its position in Sonic Automotive, Inc. (NYSE:SAH) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,739,553 shares of the company’s stock after selling 24,912 shares during the period. Dimensional Fund Advisors LP owned 5.13% of Sonic Automotive worth $94,754,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its position in Sonic Automotive by 10.8% during the 2nd quarter. Arizona State Retirement System now owns 4,324 shares of the company’s stock valued at $236,000 after buying an additional 420 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Sonic Automotive by 3.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,806 shares of the company’s stock worth $730,000 after acquiring an additional 458 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Sonic Automotive during the first quarter valued at about $30,000. Innealta Capital LLC bought a new stake in Sonic Automotive during the second quarter valued at about $41,000. Finally, AM Squared Ltd bought a new stake in Sonic Automotive during the second quarter valued at about $82,000. 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 stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $60.00, for a total transaction of $1,189,620.00. Following the sale, the chief financial officer now owns 173,618 shares of the company’s stock, valued at approximately $10,417,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 40.95% of the company’s stock.

Sonic Automotive Stock Up 0.4 %

Shares of NYSE:SAH opened at $57.44 on Wednesday. Sonic Automotive, Inc. has a 52-week low of $41.19 and a 52-week high of $64.68. The stock has a market cap of $1.95 billion, a P/E ratio of 11.77 and a beta of 1.61. The business’s 50 day moving average is $58.48 and its 200 day moving average is $56.25. The company has a quick ratio of 0.36, a current ratio of 1.10 and a debt-to-equity ratio of 2.04.

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

Sonic Automotive Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.20 annualized dividend and a yield of 2.09%. Sonic Automotive’s dividend payout ratio (DPR) is presently 24.59%.

Analysts Set New Price Targets

Several brokerages have recently commented on SAH. Bank of America lowered their price objective on Sonic Automotive from $68.00 to $67.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Needham & Company LLC initiated coverage on Sonic Automotive in a research report on Tuesday, August 20th. They issued a “buy” rating and a $73.00 target price on the stock. Stephens initiated coverage on Sonic Automotive in a research report on Thursday, September 12th. They set an “equal weight” rating and a $64.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Sonic Automotive from $63.00 to $75.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.50.

About Sonic Automotive

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.