State of Alaska Department of Revenue Sells 769 Shares of Sonic Automotive, Inc. (NYSE:SAH)

State of Alaska Department of Revenue lessened its holdings in Sonic Automotive, Inc. (NYSE:SAH) by 7.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,144 shares of the company’s stock after selling 769 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sonic Automotive were worth $513,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Sonic Automotive by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,312,003 shares of the company’s stock worth $98,283,000 after buying an additional 33,306 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in Sonic Automotive by 0.6% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 894,630 shares of the company’s stock worth $48,614,000 after purchasing an additional 5,294 shares during the period. State Street Corp lifted its position in Sonic Automotive by 2.1% in the second quarter. State Street Corp now owns 867,884 shares of the company’s stock valued at $32,001,000 after purchasing an additional 17,772 shares during the last quarter. Balyasny Asset Management LLC boosted its stake in shares of Sonic Automotive by 411.5% during the third quarter. Balyasny Asset Management LLC now owns 633,755 shares of the company’s stock valued at $27,442,000 after purchasing an additional 509,855 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in shares of Sonic Automotive by 2.3% in the first quarter. Macquarie Group Ltd. now owns 578,674 shares of the company’s stock worth $31,445,000 after purchasing an additional 13,092 shares during the last quarter. 46.92% of the stock is owned by institutional investors.

Sonic Automotive Trading Down 0.9 %

NYSE:SAH opened at $49.90 on Friday. The company has a 50-day moving average price of $53.21 and a 200-day moving average price of $51.62. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 10.04 and a beta of 1.82. The company has a current ratio of 1.10, a quick ratio of 0.41 and a debt-to-equity ratio of 2.10. Sonic Automotive, Inc. has a 12 month low of $39.02 and a 12 month high of $60.24.

Sonic Automotive (NYSE:SAH) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.17). Sonic Automotive had a return on equity of 28.06% and a net margin of 1.24%. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the business earned $2.61 earnings per share. The business’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts predict that Sonic Automotive, Inc. will post 5.75 EPS for the current year.

Sonic Automotive Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 2.40%. Sonic Automotive’s payout ratio is 24.14%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SAH shares. Morgan Stanley increased their price target on shares of Sonic Automotive from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. Bank of America lowered their price objective on shares of Sonic Automotive from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Thursday, February 29th. StockNews.com cut Sonic Automotive from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, TheStreet raised Sonic Automotive from a “c+” rating to a “b” rating in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Sonic Automotive presently has a consensus rating of “Hold” and a consensus target price of $53.40.

Sonic Automotive Company 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.