Barclays PLC Raises Stake in Sonic Automotive, Inc. (NYSE:SAH)

Barclays PLC grew its stake in shares of Sonic Automotive, Inc. (NYSE:SAH) by 346.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,413 shares of the company’s stock after purchasing an additional 18,940 shares during the quarter. Barclays PLC owned approximately 0.07% of Sonic Automotive worth $1,427,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Sonic Automotive by 100.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,196 shares of the company’s stock valued at $70,000 after acquiring an additional 599 shares in the last quarter. Point72 DIFC Ltd raised its holdings in Sonic Automotive by 6.9% in the second quarter. Point72 DIFC Ltd now owns 2,900 shares of the company’s stock worth $158,000 after purchasing an additional 187 shares in the last quarter. Intech Investment Management LLC bought a new position in Sonic Automotive in the second quarter worth about $228,000. Arizona State Retirement System raised its holdings in Sonic Automotive by 10.8% in the second quarter. Arizona State Retirement System now owns 4,324 shares of the company’s stock worth $236,000 after purchasing an additional 420 shares in the last quarter. Finally, Inspire Investing LLC raised its holdings in Sonic Automotive by 3.4% in the second quarter. Inspire Investing LLC now owns 6,475 shares of the company’s stock worth $353,000 after purchasing an additional 211 shares in the last quarter. 46.92% of the stock is owned by hedge funds and other institutional investors.

Sonic Automotive Trading Down 2.0 %

Sonic Automotive stock opened at $63.36 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.35 and a debt-to-equity ratio of 1.87. Sonic Automotive, Inc. has a 12 month low of $47.82 and a 12 month high of $70.88. The stock’s 50 day simple moving average is $65.12 and its two-hundred day simple moving average is $60.02. The firm has a market cap of $2.17 billion, a PE ratio of 11.27 and a beta of 1.67.

Sonic Automotive (NYSE:SAH) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.17). Sonic Automotive had a return on equity of 21.27% and a net margin of 1.41%. The company had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the prior year, the company posted $2.02 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts anticipate that Sonic Automotive, Inc. will post 5.6 earnings per share for the current year.

Sonic Automotive Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, December 13th. This is a positive change from Sonic Automotive’s previous quarterly dividend of $0.30. Sonic Automotive’s dividend payout ratio is currently 24.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America cut their price objective on shares of Sonic Automotive from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Needham & Company LLC upped their target price on Sonic Automotive from $73.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley upgraded Sonic Automotive from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $40.00 to $58.00 in a research report on Wednesday, September 25th. Finally, Seaport Res Ptn upgraded Sonic Automotive from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.40.

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.